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Turnkey Dominical 61 Room Hotel Villas Rio Mar

  • $4,200,000
Dominical Beach Real Estate, South Pacific Beaches
  • Businesses, Commercial properties
  • Property Type
  • 65900
  • Lot size (m2)
  • 3800
  • Construction size (m2)
  • 61
  • Bedrooms
  • 61
  • Bathrooms
For Sale
Dominical Beach Real Estate, South Pacific Beaches
  • $4,200,000

Overview

MLS ID: 46762
  • Businesses, Commercial properties
  • Property Type
  • 65900
  • Lot size (m2)
  • 3800
  • Construction size (m2)
  • 61
  • Bedrooms
  • 61
  • Bathrooms

Property Details

  • MLS ID: 22PVH38
  • Price: $4,200,000
  • Bedrooms: 61
  • Bathrooms: 61
  • Half bathrooms: 1
  • Lot Size (acre): 16.3
  • Lot size (m2): 65900
  • Construction size (m2): 3800
  • Construction size (sqft): 40902.86
  • Location: South Pacific Beaches
  • City: Dominical Beach Real Estate
  • Property Status: For Sale
  • Property Type: Businesses, Commercial properties

Property Description

Turnkey Dominical 61 Room Hotel Villas Rio Mar for sale. Right in the rapidly developing South Pacific coastline ‘’Costa Ballena’’. In the district Ballena, part of the municipality of Osa, on the banks of the river Baru, just 800 meters from the small surfer’s town of Dominical. A top tourist destination, close to five National Parks and various biological reserves. Dominical is on the cross-point of the coastal highway (the Costanera) and the intersection with the American Highway in San Isidro del General. 2.5 hours’ drive from the international airport in San Jose.

The property

The hotel Villas Rio Mar comprises 6.6 hectares of land (16.3 acres). About 50 % of the land is used for construction and a mature exotic garden, 10% is available for future extensions, and another 25% is a forest with a hiking path meandering along two small streams (quebradas); it could be used for extensions as well. Because of its setting and architecture, Villas Rio Mar feels and sounds like a real jungle resort while within walking distance of the village.

Designed for Eco-minded tourists from North America and Europe but is a popular place for many Ticos. The accommodation is constructed and finished in a semi-Polynesian style and in full harmony with the environment. Altogether, construction under the roof totals roughly 4.000 square meters (43.000 square feet), and non-roofed construction (both pools, a greenhouse, and a tennis court) is another 1.000 m2 (10.700 sqft). Concrete sidewalks interconnect all buildings.

The amenities

Fifteen 4-room bungalows, spread over the garden, plus one separate suite (room 414).  Altogether 61 rooms, all with a private terrace, a simple kitchenette, hot water, AC, internet, and TV. It relates:

  • 13 junior suites (2 KS beds)
  • 40 superior rooms (one KS and one single bed),
  • 4 kitchen Suites (cooking facilities, 2 QS beds),
  • 4 standard rooms (one KS bed).
  • Two condo apartments in front of the hotel (used by management and staff).
  • Sporting facilities like a tennis court (hard court), mini golf, and outdoor gym.
  • A recently restyled and renovated 220 m2 pool with extensive and furnished terraces around.
  • A recently built 70 m2 pool for exercising (15 x 4.5).
  • An open Reception area with offices and a sanitary block (7 bathrooms),
  • 500 m2 basic construction for the laundry, a maintenance bodega, and lodging for the staff (16 huts).
  • A 150-seat restaurant/bar (350m2) with a spacious professional kitchen. Internally connected to the pool bar.
  • An 80-seat conference room (120 m2) is connected to the restaurant.
  • An entrance road enabling cars to come deep into the back of the property.
  • High-speed internet & cable television (fiber optic) and a professional camera security system all over the property.
  • A 96 solar panel system is connected to the grid, producing 25% of electricity needed.
  • Occupancy in 2019 was just below 70% yearly; in high season (8 months), between 70 and 90%, and in low season, between 30 and 55% (May, June, September, and October).
  • Average net rate in 2019 on a yearly basis: $ 81 (after commission and excl. 13% taxes).
  • 60% of occupancy was pre-sold to more than 150 travel agents.
  • In 2019, 27% of the clients were from the USA/Can, 47% from Europe, and 26% from Latin America (predominantly Costa Rica).
  • excellent position on TripAdvisor and OTA’s like Expedia and Booking.com; number one on the list of ‘’the best value for money’’ in the Dominical area.
  • The biggest hotel in the South Pacific; very suitable for Groups.
  • Loyal and experienced staff (39 in 2019 and 24 in mid-2021).
  • Established reputation for many years (25).
  • Comfort with Nature and Adventure is key to its success, close to the village and the Beach.
  • ICT is licensed with a 3-star rating and the best possible certification for sustainable tourism.
  • Potential ROI looks good ( currently around a  10% Cap rate), and even during the COVID period, the hotel still showed a comfortable profit.
  • It relates to a professional going concerned with a dynamic growth rate,
  • The hotel is in good shape, with an excellent reputation in the B2B and B2C segments.
  • The land surplus allows extensions of at least 25% (towards 80 rooms and maybe more).
  • The sales price per room ($ 69 K) is substantially less than what would be needed for development from scratch, and less than comparable – and even less comparable – resorts in the area are valued or sold for.
  • The hotel is offered without liabilities and full control over the property and connected companies.
  • Prices are based on a Cash deal; no financing is offered.

Contact me now to view this Turnkey Dominical 61 Room Hotel Villas Rio Mar for sale.

Property Location

  • Property City Dominical Beach Real Estate
  • Geographic Area South Pacific Beaches

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Peter van Hussen
  • Peter van Hussen