Hotel Crespo Sale Data – Cuenca, Ecuador
Asking price: $3.2 million (the owner said this is "very negotiable." Owners would consider a buy-out of their partner's 40% share.
[Editor's note - This article was published in 2010. Consult with the listed agency to see if this is still on the market or if there are other hotel investment opportunities available.]
Rooms: 34 (permitted expansion would add 30)
Square meters of construction: 2,750 (expansion would add 1,700)
Square meters of land: 750 (includes current hotel plus land for expansion)
Restaurant: 60 seats, 90 sq. meters
Three banquet rooms: 450 sq. meters (expansion would add another 450 meters)
Service areas: 100 sq. meters
Market: Tourism is growing at 15% to 20% annually (fastest in Ecuador) but there have been no hotels of more than 20 rooms built in 10 years. All new rooms in that period were in small hostels, mostly with 6 to 15 rooms. Largest hotel in town is Oro Verde with 58 rooms and El Dorado with 40. Most of the better hotels are small boutiques in the historic district.
High seasons: July - Sept.; Nov. Dec.; holidays
Occupancy rate: 55%
See more at the Hotel Crespo site.
all photos © John Lamkin