Very stable hotel operation

The hotel has nearly 50 rooms and a public restaurant (now closed). The property is fully leased by a staffing organization until July 2023 (with a 5-year extension option). There is now an agreement with a staffing organization to lease the entire hotel for 3.5 years at a fixed price for housing (temporary/seasonal) workers. Income and costs are fully transparent and generate approximately €200,000 in returns per year.

Formalities
The formalities with the municipality have been taken care of. Only the 150-seat restaurant is currently closed (due to corona), but can be opened with a public function. The restaurant was renovated in 2018 and ready to move in.

Options acquisition candidate
An acquisition candidate has three options:

1. Renew after 2023 to the same broadcast organization;
2. Lease to another (or several other) broadcast organizations;
3. Return the hotel to regular tourist operation.