Business Overview

This beautiful, historic hotel is the most prestigious property in Comfort. The hotel is a rare, very well-made property. The current owners have done the hard work of a high-end restoration, with no corners cut. 15 rooms that include an owners suite. Conference Room for 32. Full Kitchen. One of the rooms is and owners suite with kitchen, dining area and sitting area. Everyone that has seen this spectacular place falls in love with it. “My dream was to add 7 rooms to the property and to restore the hotel back to it’s former glory! I budgeted 18 months and started the restoration in 2016.The restoration work actually took 3+ plus years and was finally completed in June 2019. All the work was performed by licensed contractors, roofers, electricians, painters and plumbers. All the work on the new rooms was brought up to 5 star quality, including special sound insulating drywall, double insulated ceilings, new plumbing, electrical and AC.We removed the front porch of the hotel and rebuilt it with new treated support posts and beams on anti rot risers, all new Hardie plank, new custom designed decorative elements.We added a stairway on the left side of the hotel with a landing, handrails and ties into the lower deck (this is also historically correct as their was a stairway there).We did foundation work on carriage house buildings, rear attachment to the original hotel and the cottage.This included numerous concrete pilings, new treated perimeter beams, support beams, basically anything and everything that needed to be replaced.They used two full truckloads of concrete to complete the project.A new standing seam metal roof was added to the entire property, plus new gutters with leaf guards specially designed to handle pecan trees and their tassels, leaves, etc. New Super High Efficiency Mitsubishi mini-split AC units were added to all rooms except for the Owner’s suite which has a totally rebuilt central AC unit. New high efficiency gas tankless water heaters were added to original hotel, plus 2 water softener systems.The Carriage House and Cottage buildings were stripped to the studs, a new insulating barrier added and then Hardie planked. We repainted the entire hotel with two coats of top grade Sherwin Williams paint.

Financial

  • Asking Price: $2,895,000
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: Yes
  • Established: 1900

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:N/A
  • Building Square Footage:7,995
  • Lot Size:N/A
  • Total Number of Employees:3
  • Furniture, Fixtures and Equipment:N/A

Additional Info

The company was founded in 1900, making the business 122 years old.

The business has 3 employees and is located in a building with disclosed square footage of 7,995 sq ft.

Why is the Current Owner Selling The Business?

There are all sorts of reasons why people resolve to sell operating businesses. Nevertheless, the true reason vs the one they say to you might be 2 completely different things. For instance, they may say "I have too many various responsibilities" or "I am retiring". For numerous sellers, these reasons are valid. But also, for some, these might simply be excuses to try to conceal the reality of changing demographics, increased competitors, current decrease in incomes, or a range of other factors. This is why it is extremely essential that you not depend totally on a seller's word, but rather, make use of the vendor's solution in conjunction with your total due diligence. This will repaint an extra practical picture of the business's current situation.

Existing Debts and Future Obligations

If the current entity is in debt, which numerous businesses are, then you will need to consider this when valuating/preparing your offer. Lots of businesses finance loans with the purpose of covering items like stock, payroll, accounts payable, and so on. Keep in mind that in some cases this can mean that revenue margins are too thin. Many organisations fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future obligations to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with vendors that need to be fulfilled or may result in fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do operating businesses in the location bring in new clients? Most times, operating businesses have repeat customers, which form the core of their day-to-day revenues. Specific variables such as new competition growing up around the area, road building, and also staff turn over can influence repeat clients as well as adversely influence future profits. One essential point to consider is the area of the business. Is it in a very trafficked shopping mall, or is it concealed from the main road? Obviously, the more people that see the business regularly, the greater the chance to build a returning client base. A last thought is the general area demographics. Is the business placed in a largely populated city, or is it situated on the edge of town? How might the regional mean family earnings influence future earnings potential?