Ad ID : 6826
Ads Post Date : January 4, 2021
Sale Price : S$650K
Location : Singapore
District : D02 - Tanjong Pagar - Chinatown
Views : 1537
Established since: 2011
Annual Revenue: 672000
Annual Gross Profit: 168000
No. of Staff: 8
Reason to Sell Business: To focus on other business activity.
– Renowned Singapore based hostels and lodging chain brand.
– Brand is almost 10 years old with a lot of goodwill in the industry.
– Business has 2 hostels in 2 distinct prime locations in the heart of the touristic area. (close to major MRT stations).
– Combining all 2 hostels we have 141 beds.
– We have an LOI with the landlord to acquire rights and start the third hostel with 60 beds.
– There is enough room for future expansion and growth.
– 1 hostel recently renovated.
– Served guests from more than 165 countries till date with great guest rating score.
– Last year the occupancy rate was 85-90%.
– Majority of our guests are tourists with an average stay of 3 nights.
– One of the top-performing seller on all major OTAs.
– Business is fully licensed (URA, SCDF, HLB) and not subjected to TDL (Temporary Development Levy)
– Business is clear of debts and we will offer complete support during the transition period.