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A motel centrally located in Wanaka with superb street frontage and only minutes from shops and the lake. The combination of location, staff and facilities achieves an average occupancy of 92%. The business is being sold as a very attractive going concern with long term lease in place.
The motel is being run by 2 owners (at 1.5 FTE) plus 5 part-time staff. There is a three bedroom apartment with a private courtyard attached to the manager's residence. This allows for comfortable living and a convenient location to run the business as the owner or put an on-site manager in place.
There are 19 units with 107 beds generating $966,000 revenue and an average 34% EBPITDA.
The business has been operated by an experienced Hotelier for the past four years. Performance has been improved year on year, it has been well maintained, has excellent customer reviews.
New zoning allows for development potential on the site by increasing the site coverage and moving to multi-story buildings.
The business is ready for a new owner to carry on the successful business, an investor to put a manager in place or further develop the site.
Asking price NZD $1,575,000 plus GST (if any).
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