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| Created by Paulina Cohen 2006 © - All Rights Reserved |
| All American R.E. Group Inc. Real Estate Investment * Business Broker |
EXECUTIVE SUMMARY
Main Hotel
The subject property is a full service 186 rooms, flagged hotel in South
Florida. It is located on a charming sea-side town by the Atlantic Ocean
and has a room mix of 40 King Rooms and 146 Double full size beds. The
hotel is 5 stories and has ocean views from 88 guest rooms of which 39
with kitchenettes.
The food and Beverage facilities includes a dining room that sits 100 and
a pool side patio bar with sitting for 75 that is also open to the street and
public access.
The hotel features a private beach access for its guests in addition to
other traditional amenities. The property is well known Land Mark Hotel
offering mid-scale rate value; it is also the only flagged hotel in the beach
in the area.
Current cup rate is 6.9%. Present hotel class: 3 Stars. Main Hotel
amenities includes: conference center of 1250 sq. ft., swimming pool,
fitness center, gift shop, private beach access, 100 seats full service
restaurant, 75 seats out-door cover patio bar.
The Villa
The Villa Ocean Front Resort is a 24 unit beach front all suites hotel that
features a beautiful grass lawn spanning most of the 300 feet of private
oceanfront property.
The rooms range from 2000+ SF apartment suites with balconies to
typical hotel rooms. Rates range from $99 per night to $425 per night in
the high season for the largest room.
This will be a short sale; therefore, a full agreement of the lender and the
hotel owner will be required. We estimate, therefore, the cost “to buy” the
27 Million dollars notes, will be approximately 18 Million dollars, and the
cost of “buying out” the hotel owner will be approximately 3 Million
dollars.
| HOTEL & VILLA |
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