Description
The boutique private hotel is located on a 5.9 hectare plot with a stretch of beach on the shores of the Indian Ocean! The resort is located 20 minutes away from the famous Stone Town, in a very quiet neighborhood with no village or other business facilities within 1500 meters. It is a thriving, established, highly rated hotel in the tourism industry, with a rating of 9.5 on Booking! The agent acts as a double agent. Zanzibar, TanzaniaVALUE APPRECIATION There is an approved plan for the reconstruction of the destroyed villa, and the construction is estimated at USD 60k. All equipment and decorations for the villa are ready and could also be used for the construction of another 5 villas while normal hotel operations continue at the time of construction. All major renovations and repairs have been done, so capital expenditures (Capex) will be low for a few years. There is a very good General Manager who may stay for a while. The Head Chef - is a great asset and will stay with the company. Freshwater could be sold. More villas or larger hotel accommodation could be built to further increase profitability. The company has good relations with the local authorities. The company does not have large liabilities or bank loans. Other points to note: * Excellent customer and TO ratings, excellent position on TA and Booking.com. * Replacement cost valuation of over $7.5 million. * Well established, well maintained gardens are unique and offer privacy. * Excellent support team - the manager, the chef, all the staff. The company started with only 7 villas in 2013 and built another 5 villas in 2015, which allowed the project to better manage bookings and higher EBIDA from 2016. The jetty definitely became an attraction on this side of Zanzibar island, making it possible to sail and swim directly on the colorful reef. It is almost impossible to get a permit to build a jetty now. The village of KAMA is nice and friendly and has a relatively short distance to the city and the airport. The new Zanzibar airport will be opening soon. The company has implemented special policies required by the local government to prevent the spread of viral diseases and, as a small, private boutique hotel, is well positioned as a destination after Covid-19. The company has special arrangements for its marketing to ensure a continuation of good occupancy rates and high room yields. This is not a large company, so the project does not prepare multiple statistics like some large hotels, but all data provided can be verified (the project employs external accountants and lawyers).
