Courtesy Of Jongsung Baik Of Initia Real Estate

0 N/a, Whitecourt, AB

$2,490,000

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22,000

Square feet

About 0 N/a

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.)

Features of 0 N/a

MLS® # E4379153
Price $2,490,000
Square Footage 22,000
Acres 0.00
Year Built 1979
Type Business with Property
Sub-Type Accommodation/Travel and Tourism
Style Hotel/Motel

Community Information

Address 0 N/a
Area Woodlands
Subdivision Whitecourt
City Whitecourt
Province AB
Postal Code T7S 1N8

Amenities

Is Waterfront No
Has Pool No

Interior

Fireplace No
Has Basement No

Exterior

Construction Brick/Masonry, Concrete, Stone

Additional Information

Date Listed March 27th, 2024
RE / Bank Owned No

Listing Details

OfficeCourtesy Of Jongsung Baik Of Initia Real Estate

Listing Map

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