Overview

THIS IS A BUSINESS-ONLY SALE. THE PROPERTY IS A LEASEHOLD WITH GREAT TERMS.

this is a brief overview of the property offered. Attached are some current financials for review. I look forward to talking to you after your review. I do have two employees and several freelance contributors. Also, I use the workaway volunteer program to add 6 additional workers. The pandemic has impacted the industry greatly, but Costa Rica is considered one of the best destination locations available. Are target is young travelers, and families alike. We have dorms, economy rooms and rooms with tele and air. There’s something for everyone. This was always a 4 year project, 2 years to re-build it, two years to fill it and turn it over. The pandemic interrupted the plan, and I don’t want to see it through to recovery. I’m 66 and ready to pass the baton!

This unique country is the longest standing democracy in all Central and South America. It has nationalized medicine, high literacy and is one of only two declared pacifist countries in the world. Costa Rica has no military! The country is divided into 21 different temperature zones, with climates ranging from clouded rain forest to alpine tundra. Many species of animals, birds and tundra can be found here. Tourism, eco-tourism, coffee, and fruit exports are some of the country’s main sources of income. To own a business in this country that makes a good living, is a blessing! Your investment gives you access to residency, while maintaining your current citizenship. This gives access to the nationalized medicine system, as well as preferential treatment in other areas.

The BLUE IGUANA is a 40-room hostel-hotel that provides a range of accommodations while maintaining a very interactive social experience. The property is the biggest in Samara, featuring 4 to 6 person shared rooms; (very popular with the year-around travelers) economy and standard rooms for two; rooms for 3, 4 and 5 with and without air conditioning, and a 3 bedroom – 2 bath condo which is either rentable, or serves as owner’s quarters. What makes the BLUE IGUANA special are the amenities. First is proximity to the beach – a one-minute walk! Proximity to town is equally important – we are right in the middle of town. No need for a car once you are here. The other features include a restaurant , (partner business) swimming pool, (the only shared room hotel  with a pool in town) popular bar, hotel store, tour center, (selling tours is a valuable source of income) massage room, community kitchen, ‘Snack Shack” (a vision in progress for pool-side food and beverage)

The business has many income streams. First are the rooms. There are 40 rooms that feature 33 queen-size beds and 57 individuals. Many student groups require individual beds for their customers. This means we can accommodate this type of group up to 90 people. Groups are key. Great income and repeat business. Individual travelers find the BLUE IGUANA both fun and affordable. Repeat customers make up a substantial percentage of our business. Holidays and school vacations can fill the rooms as well. Once here, the guest find it easy to eat and recreate on the premises. From booking tours to swimming in the pool to a relaxing lunch to an afternoon massage, everything they need can be found right here.

Breakfast is included in the price for all the “hotel” rooms. The dorms and dorm private can add on breakfast at the time of reservation, or purchase it in full or al a carte. A nice option for the shared room visitors.

The drink cooler in front of reception has various options of drinks, including beer in cans. Sales are constant throughout the day and evening.

Tours and transportation are an excellent revenue generator. Imagine you are in a foreign country, at your hotel, and want to do something fun or travel somewhere for the day. You are concerned about getting good value and a good price on your activities. Who do you trust? Naturally, you trust the concierge in your hotel! When the concierge is well versed in the activities and transportation available, the process and the cost, it’s easy to be the point of purchase for all your guest’s desires. Tours and transportation pay! With few exceptions, tours and transportation pay 20% commission on the purchase. This is one of the best, and easiest sales opportunities.

The Massage room can be rented to massage therapists by the hour, or a massage requested by a guest can earn a commission. We have a list of masseuses that we refer guests to for a commission, and we promote the room for rent throughout the community.

The bar can seat 50 people and is adjacent to the pool area which can accommodate 50 more. It is under a bar/restaurant use permit, but we do not have a restaurant currently. We provide some early live music during the weekend and are known for Wednesday musician jam. Realistically, the bar is a service for the guests at the hotel, but it is well-known by the people of Samara.

The restaurant on the property is an associated business that provides lunch and dinner options for the guests and the public. We collaborate with them for groups that require all-inclusive services, and they also deliver food to the bar. While we do not own the restaurant, it is a big plus to have a good restaurant on the premises!

 

 

Details

Year Built
1990
# of Floors
2
# of Buildings
1
Lot Size
2 acres
Features
  • Exterior Corridor
  • Restaurant
  • Lounge/Bar
  • Outdoor Pool
  • Guest Laundry
  • Meeting Space
  • Living Quarters

Financial

Posted By
Owner
Affiliation
Independent
# of Units
41
Room Revenue
$ 250,000.00
F&B Income
$ 40,000.00
Occupancy %
25%
NOI
$ 60,000.00