The Panorama Hotel at Jindabyne is a 25-room business, with a stunning outlook onto Lake Jindabyne, and a business opportunity in hospitality which would suit an energetic younger couple or family.
The enormous potential of the business is immediately apparent, with a panoramic view of Lake Jindabyne from the versatile function room providing a perfect backdrop for weddings, family reunions, business retreats and, of course, alpine tourism.
The 100-seat restaurant and the lounge underwent a refurbishment last year, including new walls, floors, curtains, bar and reception, a new coolroom and upgraded kitchen equipment. The restaurant has a full-length balcony for alfresco dining in warmer weather.
The hotel installed a 4 kW solar system to help reduce the cost of electricity, and it also has Tesla charging stations.
Twenty-one of the hotels 25 rooms were re-plastered, re-floored and refurnished with high-quality commercial furniture, new mattresses and linen, foldable bunk beds and new window furnishings. Bathrooms are all renovated, with half now on gas hot water.
The accommodation available for the lessee is a two-bedroom, two-bathroom unit with a three-car garage.
All rooms have wi-fi access, television, air conditioning, and tea or coffee making facilities, and guests can unwind in a games room with a pool table and use the drying room or the ski storage room.
For guest safety, the hotel has security cameras installed.
The business is viable with an occupancy rate last year of 35 per cent, which could be re-energised to achieve a higher rate. The lease is currently 24-years and the opportunity is a great one for a small family operator, according to Resortbrokers Motels Senior Executive Russell Rogers.
“This is a great business and lifestyle opportunity,” said Mr Rogers, “and the numbers are based on only three months of operations in the last year, during the snow season while the owners renovated and refurbished the hotel.”
“The business books are open for inspection to prospective buyers to undertake their own due diligence, and those with insight into hotel operations and potential will see the opportunity here clearly,” he said.
Jindabyne has a population of 2,629 and is the gateway to the Snowy Mountains. The town is the service and accommodation centre in southeastern New South Wales, 35 km northeast of the ski resort areas located within Kosciuszko National Park. The town is popular with tourists all-year-round, with activities including snow sports, alpine tours, water sports, horse riding, bush-walking, and wineries and distilleries are within easy reach.
The lease is available at an annual rent of $175,091 for 24 years, and net profit for 2018/19 was $320,430.93, while in 2017/18 the net profit was $427,027.87. The sale price for the hotel’s lease is $1,250,000.