Overview

The BLUE IGUANA is a 40-room, 2 condominimum hotel in Samara, CR. It is an excellent, up and coming beach community. The hotel has dorms with A/C, and 19 of the remaining 34 rooms are air conditioned as well. There is a bar, pool, massage room, store, and tour desk, which pays 20% on all tours and transportation sold. The lease has 15 years remaining.
I rebuilt the hotel during 2015-2016, and first opened in late 2016. It has been gaining “traction” over the past 3 years, Covid-19 pandemic knocked us down for the 2020 season, but we bounced back. This 2021 season has been the best yet. I have been putting the cash flow back into improvements, and costs during the low season. Costs seem to run about $12,000 per month, or $144,000.00 per year. We have been using the volunteer program this year and reducing paid staff. That seems to have some merit. All in all, a couple or group with good marketing skills and maintenance capabilities, can make a good living at this.
The business has many income streams. First are the rooms. There are 40 rooms that feature 30 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 87 people. Groups are key. Great income and repeat business. The two condominiums rent easily by the day, week and month. Individual travelers find the BLUE IGUANA both fun and affordable. Repeat customers make up a substantial percentage of our business. Holiday and school vacations can fill the rooms as well. Once here, the guest find discover 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.

Details

Year Built
1985
# of Floors
2
# of Buildings
1
Lot Size
1 acres
Features
  • Breakfast Room
  • Restaurant
  • Lounge/Bar
  • Outdoor Pool
  • Guest Laundry
  • Meeting Space
  • Living Quarters

Financial

Posted By
Owner
Affiliation
Independent
# of Units
42
Room Revenue
$ 201,708.00
F&B Income
$ 57,866.00
Other Income
$ 4,841.00
ADR
$ 552.00
Occupancy %
64%
NOI
$ 96,134.00