Sixteen Room Salento Hotel Features Owner Financing

This is a wonderful opportunity for someone with hotel / tourism experience to purchase a brand new 16 room hotel in Salento, Quindio, Colombia.

Of the 16 rooms, thirteen are queen size, three are large for families and could sleep up to ten. All of the rooms have private bathrooms, with showers, the family size rooms have both male and female bathrooms. Capacity, once furnished, could be up to fifty which would appeal to groups that could stay in one place and not need to be split. We know of only two other hotels with larger abilities in Salento, we have one of 24 rooms listed for sale at a much higher asking price. All rooms are serviced with hot water, there are three separate on demand heaters that insure adequate volume to the showers.

The construction is solid concrete walls, not framed with drywall finish, eliminating the chance of any transfer of noise between rooms. The exterior has a Colombian feel to it with the use of shutters and the bright red paint on a white building. The main building has ten rentable rooms with a reception / office / living space for the owner with five rooms behind the main building surrounding a large concrete pad and covered dining area for twenty four at six tables. The pad could be tiled and is large enough to be used as a restaurant dining area for guests and locals. There is a kitchen on this level that would need upgrading if anything more than a simple breakfast was being considered, but is very convenient to the space. There is also parking for about eight cars.

The hotel comes unfurnished so is ready for the new owner’s decorating touches. A preliminary budget looks like about 200 million Colombian pesos, $50K US, for glass shower doors, tvs, queen beds, armoires as there are no closets, and incidentals like sheets, pillows, towels, mirrors and small decorator items. The advantage to this is that everything is new meaning no expense for the immediate future for furnishings, no different than buying an existing hotel where most items are well used and have to be replaced. One could furnish over time to reduce the capital cost, do perhaps six or eight rooms to start and then finish the others from income.

A very attractive feature is that the owner is offering financing with half down, all terms to be negotiated. A potential buyer would have to make the proposal and it would be presented to our seller. The asking price is 2,500 million COP, Colombian pesos, negotiable, about $625K US depending on that day’s exchange rate. Payment can be made in the United States with bank transfer saving the buyer the commission of converting US $ to COP.

This hotel is priced for a quick sale and the financing offer means one gets into the tourism business in the most tourist visited town in all of Quindio for half of the sale price. There are not many hotels for sale with such an attractive overall package, it is an opportunity not to be missed. Call us, we will be pleased to answer your questions and arrange a showing at your convenience.