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Fantastic Beach Resort Hotel Near Yala Park For Sale

Kirinda, Yala, Sri Lanka
Asking Price:
$1,500,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$250K - $500K (USD)
Cash Flow:
Not applicable

The hotel has 100 meters of pristine beachfront and is in a undisturbed tropical wildlife area. The hotel is located in Southern Sri Lanka in close proximity to the famous Yala National Park and Bundala National Park as well as many local cultural sites. The range of activities currently include wildlife safari's, fishing, diving, cooking, cycling, hiking and a range of beach activities & cultural sites.

The land extent is 1.3 acres OR 210 perches (0.5097 hectares).This is on-going established tourist hotel with all licences and approvals. The bar and bar food outlet generates daily sales income.

The hotel currently consists of 23 chalets offering double, triple and family size accommodation options. There is scope to increase the number of rooms and provide extra activity options that are compatible with the local environment. The tourists are mostly from European countries with few visitors from the Asia & Pacific region. It is possible to expand the business by attracting more tourist numbers from the Chinese and Indian markets. During the off season promotions are done to attract Sri Lankan as well as Sri Lankan company bookings. Guests tend to stay on average 2-4 nights.

The hotel consists of many buildings which include pool, restaurant, office, stores, guest areas, staff and driver quarters, massage centre, gift shop and large function hall with bar & plus food outlet.

Important Relevant Information for Buyers

Sale of hotel includes the private limited company where the company shares are transferred.

• Company share sales and transfers are exempt from taxes at present in Sri Lanka.
• Foreign buyers can own 100% of company shares when asset is leasehold property.
• Change of company directorship upon sale of company shares is an easy process.
• Company has 10 million shares. Buyer can be sole owner or joint partnership buyers.
• Commercial long lease for 30 years commenced from 31st May 2017 and is renewable.
• Established on-going business that is marketed in several travel related magazines.
• Existing agents, future bookings and company will be transferred to new owner debt free.
• The guide price stated includes all operational assets & owner is negotiable to fair offers.
• Annual lease rental for the first five years is fixed at Rs 280,000 which is paid annually.
• Lease rental fee is paid for the current year until 31st May 2020.
• All required hotel operational licences have been renewed for this current year 2019.
• All licences including trade licences, tourist board licences and hotel liquor licences FL7 and FL8.
Bar operation and food outlet generates daily sales income irrespective of tourist fluctuations.
• Resort comprises of a range of buildings extent of 20,000ft² OR 1,850m² for various usages
• Three Phase Main Line Electricity, Main Line Water, 4G WiFi, CDM Tel Lines & Dialog Satellite
• Kirinda is a designated tourism zone and is in the Hambantota District economic hub.
• Hambantota is to be a major economic hub area with infrastructure development done.
• Hambantota has a large natural harbour for cargo ships and cruise ships are expected.
• Hambantota has International Airport completed and Highway extension is been linked with slip road access been built. Highway expected to open in August 2019.

The hotel is been sold with all operational assets, on-going tourism business and private limited liability company with commercial long lease for tourism. The indicated sale price is negotiable.

This is a fantastic opportunity for any investor who wants to do business in the tourism sector.

Genuine investor/buyers please contact the owner through the form. (NO BROKERS)

Property information

Real Estate:

Real Property Included

Living Accommodation:

Resort comprises of 23 chalets, offices, stores, function hall & bar, massage centre, gift shop, pool, restaurant, driver quarters, staff quarters, laundry facility and various other buildings for guest use.

Location:

Undisturbed beach front hotel property located in Southern region of Sri Lanka Near Yala Park.

Premises Details:

Undisturbed beach frontage property in semi remote coastal fishing village area of Kirinda, Near Yala.

Size in square feet:
21,000
Planning Consent:

All building approvals and certificate obtained together with all trade licences, tourist board licence as well as hotel FL7 & FL8 bar liquor licences and commercial long lease with private limited company.

Business Operation

Expansion Potential:

There is space available to increase the number of rooms as well as expand the range of activities.

Competition / Market:

There are few other small guest houses in the area and a few larger five star hotel close to Yala Park.

Reasons for selling:

Owner wishes to migrate to Australia to be with family.

Trading hours:

Hotel business.

Employees:
12
Years established:
7

Other Information

Support & training:

Support can be provided for a short time with operation during the handover period as required by buyer.

Furniture / Fixtures value:
$1,150,000 (USD) - included in the asking price
Inventory / Stock value:
$350,000 (USD) - included in the asking price
Website:
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