BUSINESS:  This profitable Alpine style resort motel with 44 rooms, 80-person restaurant and outdoor heated pool is a year-around operation located in the Olympic region of the central Adirondacks. It is sited on a major road, next to an upscale shopping and activity center, with Whiteface Mountain and other views.  Its profits and sales have been consistent in the decade of owner’s “hands-on” management, and recently under a staff general manager.  Four family cabin units were added in 2005, and there was total renovation and upgrading of 24 rooms and a separate back building of 16 rooms. Restaurant risk and complications have been recently outsourced. Client programs emphasize AAA, golf, ski packages and visiting Olympic and world competitor teams.

WHY BUY?

• Location … Location …. Location

• Well-established and well-reputed in area

• Facility recently refurbished with new furniture and extras

• Competent, loyal non- union staff is economical

• Consistent profitability, solid motel sales over $ 700,000

• Great ROTA (10% +) and ROE (24+ %)

Competitive Niche in economy market for family and group travelers  who are interested in the “Olympic Village” All seasons, with frequent repeater individuals and groups.  Seller is highly motivated to get on with his new life.  High quality lifestyle in suburban area offers great place to live, raise a family, enjoy nearby vacation and sports venues.

FACILITIES and EQUIPMENT: The 3.5 acre sloping site contains two large motel buildings and four family cabin units. The main building has 24 upscale rooms, the Lobby, Restaurant and Lounge, full kitchen and Conference Center / apartment. Another structure contains 16 economy standard rooms and a suite that is a potential owner’s quarters. There are 4 cabins with great views, and a storage garage. The buildings and in-ground heated 40’ x 20 pool, with fully paved access and parking, are in excellent repair.

FINANCIAL:  Sales, including ancillary motel sales were $ 536,000 in 2009, down from $ the prior year, but EBITDO ( earnings before interest, Taxes, Depreciation and Owner Take out  was $ 168,400, both adjusted for outsourcing of the restaurant to a contractor / lessee.   Athletic and golf groups, and leaf peepers, are strong. Occupancy and repeater support is strong. Adjusted for an outsourced restaurant operation, there is pro forma discretionary cash flow for a new owner, prior to his financial items and take outs, of well above approximately $ 245,000. The property/buildings were appraised at over $ 1,800,000 and are fully equipped, and cash flow has little inventory or credit risk.

SUMMARY TERMS AND PRICE:  This profitable, extraordinarily located business is offered at $ 1,895,000, with the owner willing to consider some modest financing of a qualified buyer. Bank financing is available for this well reputed, first class condition property for an “involved” new owner who has $ 375, 000, who will be supported by an existing manager and loyal staff.

OPPORTUNITY FOR GROWTH: Area tourism has been consistently strong from the popularization of the 1980 Olympic venues by a NY State agency and an aggressive, active Visitor’s bureau with tax based resources. In addition, the recent nearby development of an upscale resort, the area’s principal shopping center nest door and many-faceted adjacent tourist venues promises increased traffic and visibility. The recent improvements, including the outsourcing of the restaurant on a favorable basis, will lead to increased year-around occupancy and firmer rates for this “top of economy” establishment. An imaginative new owner can build on the current strong position of the business, profit from the predictable cost structure, live on the premises and enjoy a quality lifestyle in a world-class multi-season exciting and expanding, resort community.