Sectors / Category

Annual turnover

  • Mandate: 33639
  • Added: 25 Nov 2019
  • AFS
  • 882

Hotel - Restaurant, Bar etc + Dive Centre

KwaZulu-Natal, South Coast
Mandate 33639
Added 25 Nov 2019
R 19,995,000* ZAR
Stock: R 0
Assets: R 16,403,133
R 150,905 ZAR
Mike Smith CA
Aldes Accolade

A fully operational Hotel, including licensed restaurant and bar, and Dive Centre. Various offerings: Diving Adventure Packages, Gap Year Adventures, Dive Courses

Hotel - Restaurant, Bar etc + Dive Centre
R 19,995,000* ZAR
Stock: R0
Assets: R16,403,133
R 150,905 ZAR

A fully operational Hotel, including licensed restaurant and bar, and Dive Centre. Various offerings: Diving Adventure Packages, Gap Year Adventures, Dive Courses

To gain access to more business info
please supply us with your details below

Fully describe the business's activities?
A fully operational Hotel, including licensed restaurant and bar, and Dive Centre. Various offerings: Diving Adventure Packages, Gap Year Adventures, Dive Courses The hotel is 2 385sqm under roof and has 21 rooms available for customers out of a total of 36 rooms. Customers are frequently turned away due to room unavailability and it is estimated that R1.5mill would be required to renovate the currently unusable rooms. Package bookings are already taken up to December 2020.

How are the clients attracted to the business?
Word of mouth is their biggest marketing platform, their website is highly ranked with google, maintaining and growing their agent base has also grown their business.

What Advertising/Marketing is carried out?
Mainly digital marketing, annually the management team goes to Dive Trade Shows in Europe.

What competition exists?
A few operators are in Umkomaas to dive Aliwal Shoal, all catering to different sets of clientele, this business being the only place to offer diving, dining and accommodation all on one premises sets them ahead of the others.

What are the seasonal trends?
They operate 365 days per year. The peak season runs from December through to September, starting with South African summer, international holidays, different diving attractions over season change and ending with Sardine Run. Previously a misconception about the weather has resulted in September through October and beginning November being quieter months, and they we are currently campaigning to change this misconception.

Is the business VAT Registered?
The trading business is VAT registered.

What VAT documentation is on file?
VAT documentation is available to pre-qualified buyers.

Are there up-to-date Management Accounts available?
Yes, available to pre-qualified buyers.

What Balance Sheet and Income Statements are available?
FY2019 Annual Financial Statements are available to pre-qualified buyers.

What percentage of the business is cash/credit?
No credit is given, all bookings are secured with 20% deposit with the balance due 30 days prior to arrival.

How could the profitability of the business be improved?
Renovate the currently unusable hotel rooms, renovation will potentially bring in an additional 2.5mill income per annum, conservatively.

Is Seller finance available and for what amount?
Seller finance is not available.

What is the total staff complement?
Currently there is a compliment of 29 staff members of which skippers and dive masters are effectively contractual.

How involved is the Owner in running the business?
One of the owners and his wife manage both the hotel, dive center and restaurant.

What are the main assets of the business?
A fully operational hotel (room furniture, kitchen equipment, etc) and a fully operational dive centre (4 vehicles, 3 boats and trailers, dive centre equipment etc).

Are any items not included in the sale?
All items included

What is their overall condition?
Overall condition of the assets is excellent, well maintained boats and vehicles as well as diving equipment making for safe experiences is of utmost importance to them.

Do any require repairing?
Not currently.

How have they been valued ?
The assets have been valued by the owners, market related.

A lot of the package client are foreigners from hard currency countries. Package pricing thus “hedged” against the Rand.

Capital for unusable rooms. Cost of debt.

Renovate the currently unusable hotel rooms. Fully/partially settle the debt or replace with lower interest rate debt.

None perceived.

What is the reason for the sale?
Silent partner emigrating. Hence can be outright purchase or alternatively a 50% acquisition .

Why is this a good business?
This is fully functional hotel and dive centre. It has well established clientele.

What is the price plus stock and the profit?
Current Profit without finance charges etc is R1.8million. The Selling Price is R 19.995 million for 100% or alternatively 50% for R9.995 million.

Other listings by Mike
Added : 9 Mar 2020 326
Yearly profit: R140,863
R 6.63MZAR
Added : 2 Dec 2019 500
Yearly profit: R1,851,279
R 8.00MZAR
Added : 1 Nov 2019 1403
Yearly profit: R1,910,854

Aldes Accolade

2 members
15 active mandates
15 St Michaels Road, Winterskloof

Our experienced cross industry brokers are
waiting to assist and guide you…

Similar Businesses for sale

Discover similar, inspiring businesses for sale

R 10.00MZAR
Added : 20 Jun 2020 177
Yearly profit: R2,928,009
Western Cape
R 11.00MZAR
Added : 19 Jun 2020 250
Yearly profit: R4,540,271
R 14.80MZAR
Added : 22 May 2020 798
Yearly profit: R6,727,915
R 20.00MZAR
Added : 4 Apr 2020 425
Yearly profit: R920,253
R 13.50MZAR
Added : 25 Feb 2020 885
Yearly profit: R5,564,000
Western Cape
R 11.00MZAR
Added : 11 Feb 2020 628
Profit*: R3,466,871 *(9 months)
R 14.00MZAR
Added : 29 Jan 2020 786
Yearly profit: R5,809,815

Businesses in Gauteng

Annual Turnover Amount between R 500 thousand and R 6 million

Added : 9 Jul 2020 102
Yearly profit: R326,618
R 1.20MZAR
Added : 8 Jul 2020 90
Yearly profit: R521,567
Added : 6 Jul 2020 116
Yearly profit: R316,287
R 2.30MZAR
Added : 4 Jul 2020 121
Yearly profit: R605,679
R 1.75MZAR
Added : 25 Jun 2020 1610
Yearly profit: R1,318,897
Added : 20 Jun 2020 264
Profit*: R103,436 *(6 months)
Added : 5 Jun 2020 330
Yearly profit: R407,676
R 1.95MZAR
Added : 21 May 2020 817
Yearly profit: R812,722