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Unique Beach Resort In Sri Lanka For Sale

Kirinda, Yala, Sri Lanka
Asking Price:
$1,650,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$250K - $500K (USD)
Cash Flow:
Not applicable

The hotel is located on pristine beach that is in an undisturbed tropical coastal environment. The land extent is 1.3 acres OR 210 perches (0.5097 hectares) with a 30 year commercial long lease for tourism business.This is on-going established tourist hotel with all licences and approvals granted.

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

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.

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 except generator that’s rented.
• Annual lease rental for the first five years is fixed at Rs 280,000 paid annually.
• Lease rental paid for 1st Year to 31st May 2018 and paid for current year until 31st May 2019.
• All required operational licences have been renewed for this current year 2018.
• All licences including trade licences, tourist board licences and hotel liquor licences FL7 & FL8.
• 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 Wi Fi, CDM Tel Lines & Dialog Satelitte

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 main tourists are mostly from Europe 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 2-3 nights.

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.

If interested please contact the seller through the form.

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 guest use areas.

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:
18,500
Planning Consent:

All building approvals and certificate obtained together with all trade licences, tourist & 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 their son.

Trading hours:

Hotel business.

Employees:
15
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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Related Documents:

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