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Accommodation business for sale in buoyant Rotorua market
Accommodation business for sale in buoyant Rotorua market
A central Rotorua motel business - comprising multiple units, pool complex and an owner’s residence - in a flourishing accommodation market has been placed on the market for sale.
The well presented and positioned accommodation business, Havana Motor Lodge, is located at 1078 Whakaue Street and is only minutes from the lake front and Rotorua’s prime restaurant area Eat Streat.
The business encompasses 22 motel units, a swimming pool complex with a heated main pool and two mineral pools, and a two-bedroom owner’s/manager’s residence.
The business is being marketed for sale by Bayleys Rotorua through salesperson Mark Rendell, with an asking price of $480,000.
Mr Rendell said Havana Motor Lodge presented an exciting business opportunity to a potential new owner, with the option to step into an established accommodation operation as the industry heads into its busy season. It is operating on a lease extended out to 31 July 2029.
“This is an ideal opportunity for a couple or family to move straight in and take over a successful business which already has a recognised corporate and leisure clientele, and a growing number of potential new clients”, he said.
The Rotorua accommodation market remains buoyant, with an increase in the number of visitors to the region, according to Destination Rotorua.
Latest figures show 85,000 international visitor nights were spent in Rotorua’s commercial accommodation for the month of April this year - up 10,000 nights or 14 percent from same month last year.
Rotorua’s attraction and activities sites also experienced a 14 percent growth in the same period - with spending by visitors on electronic cards up 31 percent.
“Rotorua has always been a hugely popular destination for tourists, who are drawn to its sparkling lakes, stunning scenery, geothermal attractions and some the world’s best mountain biking tracks,” Mr Rendell said.
“Virtually every overseas visitor travelling through New Zealand comes here, as well as growing numbers from the Auckland domestic market. The region continues to experience huge growth, and this is expected to keep having a positive impact on the accommodation market, which remains strong.”
Mr Rendell said the motel’s geographic location enhanced its occupancy levels and a recent refurbishment was expected to further improve business.
Havana Motor Lodge is in a quiet location within walking distance to the lake front and is situated opposite QE Health Spa.
“The current owner has increased occupancy rates and turnover by more than $110,000 in the 2014 financial year compared to the previous 12 months. Given the number of visitors to the region, property location and refurbishment, this is likely to continue to have a positive impact on the business, particularly heading into the summer months.”
The 2222sqm property comprises 22 self-contained one and two-bedroom motel units over two levels which were constructed in the 1960s. The units range from queen and twin studios to one and two bedroom apartments. Heating to the property is from a geothermal bore.
Several of the units have recently been refurbished including bathroom renovations and interior painting. Tariffs range from $110-$140 per night.
Guests can enjoy a thermally heated swimming pool and barbecue area, two mineral pools in the communal area, cooking facilities, Sky TV, flat screen TVs, and wireless internet in each unit. Breakfast, laundry facilities and plenty of off-street parking is also available.
At the entrance to the property is the reception and office, connected into the owners’ accommodation – a two-bedroom residence with kitchen, dining, and lounge areas.
The business is currently managed by a husband and wife team and three on-call staff. The motor lodge would be ideally suited to a couple or family wanting to take over an established business, combined with Rotorua’s enviable lifestyle, said Mr Rendell.
ENDS
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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