For sale successful operating family mini-hotel on the island of Panglao Bohol Philippines.
This is a great opportunity for a family business with a profit and a house for living near the sea in the tropics.
Located on the second line in a seven-minute walk from the most popular beach of Alona.
Hotel has all sertifications and licenses.
The plot area is 1487 sq.m.
2 separate cottages (56 sq.m) with two bedrooms and a kitchen
3 apartments with one bedroom and kitchen
4 rooms without kitchen
All rooms are equipped with modern air conditioning and water heaters.
Owner house 120 sq.m. (it is possible to rebuild it in three rooms)
Water well plus rainwater collection and storage system
2 underground rainwater tanks at 60 and 30 cubic meters.
The territory is equipped. Well maintained garden with lawns.
Own parking for three cars
The hotel is surrounded by a concrete fence.
The land is in 25 years long-term lease. The remaining lease term is 20 years. The possibility of extension. At the moment, the owner of the land is ready for negotiations to extend the lease for another 6 years. A foreigner cannot own land in the Philippines. Only rent a maximum of 25 years.
The hotel brings a steady income of 50 thousand dollars a year. This year, the yield will be 70-80 thousand dollars. After the opening of the international airport on Panglao, where the hotel is located, an increase in tourist traffic is planned, which will increase the cost of living. In this case, the planned annual profit of 100 thousand dollars a year.
Reason for sale: retirement due to owner health
The owner plans to stay on the island after the sale and can help the new owners the first 2-4 months.
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