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Restaurant & 2 Star Hostel

  • €1,600,000
Malaga, Vélez-Málaga
For Sale Freehold

Restaurant & 2 Star Hostel

Malaga, Vélez-Málaga
  • €1,600,000

Description

Profitable Restaurant & 2 Star Hostel front line beach in Malaga East for Sale at 1.6M

Characteristics

600m2 built over 4 floors
10 ensuite guest rooms with one being a family room (4 beds)
2 star Hostel with 8.7 avg rating and famous restaurant with 9.5 rating on thefork
Established for more than 15 years
Full building structure with no debt
This well-known hostel and restaurant combo has been profitably trading since 2002. Built and managed by the same family it has built an extremely strong reputation as a go to restaurant in this coastal town just 30 minutes east of Malaga airport which constantly receives German, Belgian, Dutch and Scandinavian guests coming to enjoy the sun, the beach, the golf courses and the beautiful Axarquia mountains for hiking and cycling besides being able to shortly visit cities like Malaga & Nerja in under 25 minutes.

With 10 guest rooms the hostel caters mainly to Spanish travelers boasting an occupancy of 65%, it certainly will benefit tremendously from an owner catering to expats and foreigners taking advantage of the wave of tourism investment happening in the area. Also there is the possibility of turning the owner’s apartment on the 4th floor into further 5 rooms or 4 suites.

The restaurant has about 25 covers inside and a further 20 outside, with an average spending rate per customer of 35/40 euros it is a very profitable business and one of the very few of its type in the area, the owner is also the chef but extensive training will be provided to new owners and staff (chef/cook/other) to take over without any issues.

The owner’s family lives on premises in a 3 bedroom apartment with a big indoor terrace as well as a 2 rooms with private terraces and a laundry room as well as a big space used for deposit and other on top of the building.

The town is famous for its beaches which are preferred by the Malaga locals when going outside of Malaga due to the good diversity of restaurants on the beach, no traffic, and better tourism.

This Hostel would certainly benefit from a modernization of the furniture as far as mattresses and sheets/covers go to jump a level in the type of clients being able to increase then the RevPAR by 20/30 per night but structurally the structure is in impeccable conditions.

For more detailed information about this business, we will need to have a brief telephone conversation to determine a good fit with the business and area as well as a fully executed NDA (non-disclosure agreement) to preserve the confidentiality of this running business.

Details

Updated on May 28, 2021 at 12:56 pm
  • Property ID: MAL6855F
  • Bedrooms: 13
  • Property Type: Bars and Restaurants, Lodging, Restaurant
  • Property Status: For Sale Freehold

Address

  • City Vélez-Málaga
  • State/county Malaga
  • Area Costa Del Sol East
  • Country Spain

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