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Inn Consulting Partners
An Inn since 1946, this spectacular New York Inn offers views of the lake from many of their 23 guest rooms, as well as in the 150 seat restaurant. The main Inn, a historic Victorian style building, has the restaurant on the ground floor and five guest rooms on the second floor all with private baths. The accommodations in the four additional guesthouses offer a nice selection of room choices, some with whirlpool tubs, and several with balconies or patios for guests to enjoy views of the lake and nearby state park.
The Inn is surrounded by a popular state park with a breathtaking view of one of the Finger Lakes and is located on the outskirts of Ithaca, New York. The income of over $500,000 in room sales and over $600,000 in food and beverage income provides a strong and stable business. The occupancy rate of 35% to 38% is annualized; however the Inn and restaurant close for the season in January through the end of March. Averaging the room occupancy over nine months calculates to about 50%. Cornell University and Ithaca College are within minutes of the Inn.
During the high season of May through October, the restaurant is open (dinner only) seven days a week. In April, the Inn serves dinner Thursday – Sunday and in November, Friday – Sunday. The Inn hosts holiday and private events in December and wraps up the season with New Year’s Eve Dinner to the public.
The Inn has earned 3 Diamonds from AAA and has been a member of the prestigious Select Registry – Distinguished Inns of North America for the past 11 years. The price of the property is based on Inn Partners Valuation, at $2,975,000.
Contact Inn Partners for more details about this spectacular opportunity.
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