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Courtesy of Jongsung Baik of Initia Real Estate.

0 N/A

Whitecourt, AB T7S 1N8
  • $2,490,000
  • STATUS: Active
  • ID#: E4379153
UPDATED: 152 min ago
$2,490,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 22,000
    SQFT
  • $113
    $/SQFT
Neighbourhood:
Type:
Business Opportunity
Built:
1979
Area:

Description

Located at the entrance of Whitecourt, this franchise hotel boasts both profitability and exceptional investment value. Situated on 2.2 acres of prime land, the property features 62 guest rooms, including 6 suites and 14 kitchenette rooms, a 60-seat lounge with 10 VLTs, a 92-seat restaurant, and a 60-seat banquet room with a party room accommodating 4 pool tables. The guest rooms cater primarily to long-term stays, with a focus on clientele from the oil and gas industry, while the bar and restaurant attract both locals and visitors alike. Since the onset of COVID-19, there has been a steady increase in revenue and income. The current owner has been operating the business for a decade since 2014 and is now looking to retire. With a staff of 18 employees, the business recorded $1.55 million in revenue for the fiscal year ending February 2023. (Given that the fiscal year for this corporation ends at the end of February, the revenue reported in the 2023 financial statements largely represents that of 2022.)

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© 2024 REALTORS® Association of Edmonton. All Rights Reserved. Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton. Trademarks are owned or controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®, REALTORS®) and/or the quality of services they provide (MLS®, Multiple Listing Service®). Data last updated: 2024-05-30T07:36:12.477 UTC.
Mortgage Calculator is provided by BoomTown.
www.liveinitia.ca/homes/148963818
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0 N/A Whitecourt, AB T7S 1N8

  • Price: $2,490,000
  • Status: Active
  • On Site: Days
  • Updated: 152 min ago
  • ID#: E4379153
0
Beds
0
Baths
0
½ Baths
N/A
Acres
22,000
SQFT
$113
$/SQFT
1979
Built
Neighbourhood:
Whitecourt
Area:
Woodlands
Property Description
Located at the entrance of Whitecourt, this franchise hotel boasts both profitability and exceptional investment value. Situated on 2.2 acres of prime land, the property features 62 guest rooms, including 6 suites and 14 kitchenette rooms, a 60-seat lounge with 10 VLTs, a 92-seat restaurant, and a 60-seat banquet room with a party room accommodating 4 pool tables. The guest rooms cater primarily to long-term stays, with a focus on clientele from the oil and gas industry, while the bar and restaurant attract both locals and visitors alike. Since the onset of COVID-19, there has been a steady increase in revenue and income. The current owner has been operating the business for a decade since 2014 and is now looking to retire. With a staff of 18 employees, the business recorded $1.55 million in revenue for the fiscal year ending February 2023. (Given that the fiscal year for this corporation ends at the end of February, the revenue reported in the 2023 financial statements largely represents that of 2022.)
Property Features

Land Use Zoning C-7 Hilltop Commercial Major Business Type Accommodation/Travel and Tourism Minor Business Type Hotel/Motel Property Type Details Business with Property Transaction Type For Sale

© 2024 REALTORS® Association of Edmonton. All Rights Reserved.
Mortgage Calculator is provided by BoomTown.


© 2024 REALTORS® Association of Edmonton. All Rights Reserved. Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton. Trademarks are owned or controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®, REALTORS®) and/or the quality of services they provide (MLS®, Multiple Listing Service®). Data last updated: 2024-05-30T07:36:12.477 UTC.
Mortgage Calculator is provided by BoomTown.
 
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Initia Real Estate
#201 - 11823 114 Avenue
NW Edmonton AB, T5G 2Y6