3 Star Hotel Business for Sale on the Puri Beach
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The hotel has been dormant for around past 7 years. The hotel is located at the heart of the marine drive in Puri. It was one of the well maintained and nicely run hotels and was quite popular among tourists as it was one of the rare hotels with this size on the beach front. The total land area it covers is around 2.8 acres. Having total 36 rooms. The city of Puri in general has 100% room occupancy during peak season, in fact, it has shortfall of good hotels and people are ready to take refuge as PG during peak season. One of the owners owns over 10% stake in this hotel and wants to sell his stake. Other partners can also be ready to sell their stakes so the deal can be possibly converted into outright sale opportunity. Right now there are three partners. The current Valuation of the entire property is between INR 90-100 crores. If the buyer is willing to take the entire property, the deal can be closed for 40-50% below valuation, i.e. anywhere around 45cr- 50 crores. The expected asking price is already well below valuation because of the legal battle.
Reason
Hotel is closed for past few years, Buyer with sufficient resources and backing can get the hotel up and running soon enough.
Business Tags
₹10 to ₹200 Cr
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