Get ready for post-pandemic tourism boom with this beautiful independent motel located in Hinton, AB, gateway to Jasper and Edmonton on Hwy 16.
Originally built in 1996 to an international brand hotel standards, this modern motel features 42 rooms, a breakfast room, business centre area, exercise room and large paved parking lot on 1 acre.
This motel is the preferred "pit stop" for motoring travellers as it has high visibility and easy entrance from the main highway, direct entry to rooms from the parking lot, and enough space to accommodate large trucks and RVs.
5 year average sales (before COVID) was $1.3M to $900k per year with average of $1M / year. Designed and built to a top motel brand standards.
The Seller is very motivated to retire and has priced this for a quick sale which is based on $100k per room and ACB of PPE on Financial Statements. Appraised value in 2013 was $5.45M.
The Town of Hinton offers a quality lifestyle for families with schools, golf courses, hospital, local and national stores (IGA, Walmart, Canadian Tire) as shown in the video.
Inventory: Included in asking price
Real Estate: Owned
Included in asking price
2 storey wood frame construction with metal roofing built in 1996 on one acre of paved land.
Most rooms are double queens but also has a few rooms with Jacuzzis;
Amenities include breakfast room, exercise room and basement laundry with commercial washer/dryers.
Newer flat screen TVs, fast internet, microwave, bar fridge, table desk and window mounted A/C in all rooms.
Easy access from Hwy. 16 and large parking lot to accommodate trucks.
Competition: There are 10 franchised motels and 14 independent motels in Hinton. This motel is very well located with high visibility and street appeal from the main highway, and large driveway and parking lot to accommodate truck and RVs. Major shopping and restaurants are within walking distance. It is well positioned to be a premium boutique motel for road trip enthusiasts.
Growth & Expansion: The pandemic has hit the tourism industry hard and this motel was not an exception. However, the owner was determined to keep it open and keep as many staff as possible to be ready for the anticipated post-pandemic boom in tourism. Sales in July and August were over $88000 / month.
This motel usually sells out during the holiday season at rates up to $250 per night. Many options to grow and expand including co-op program with hospitality colleges, corporate accounts, etc.
Financing: Currently has $2M mortgage from an institutional lender
Support & Training: Dedicated general manager can continue to work if desired for an investor or can provide all the training and familiarization to owner-operator for smooth transition.
Reason for Selling: Retirement
COMPLETE AND SIGN THE NDA (available in the doc section)
SERIOUS INQUIRIES FROM BUYERS WHO ARE READY, WILLING AND ABLE TO BUY THIS MOTEL ONLY PLEASE.