Please contact listing agent about recent price reduction 1/10/2018.
Hotel Rosedale presents the opportunity to own the only independent hotel in the strongest hotel cluster of Bakersfield. The property features 173 interior corridor rooms, including resort amenities such as a full service Restaurant & Bar and Pool / Jacuzzi on-site. With combined gross revenue at $4MM, Hotel Rosedale allows a new owner to come in and capitalize on its established success. Professionally owned and managed, the property is well maintained with recent work including new roofing and room improvements.
The current owner has recently taken over management of the on-site Bullpen Restaurant and Bar, providing additional income potential for an experienced management team. The restaurant has seating capacity for 235 and a full on-sale liquor license. Besides the restaurant is a breakfast area with seating for 140, operating under the same liquor license. Distinctly, there is a conference / banquet room with seating capacity for 300 with midway dividers allowing the room to be split in half.
Hotel Rosedale is partnered with several cross/inter-state charter bus services, providing hospitality services to their clients. Reservations for the following year are already approximately $420K and provide a client stream that can be strengthened further. Additionally, there is excellent visibility from the highways, thanks to two 70 foot signs.
A prudent Investor could work to cut down operating expenses.
Highly motivated Seller.
