NO LONGER GOING AHEAD
This page holds only archived material for reference. The project described below is no longer active.
Project Number 26
Bringing Closed Hotels Back To Life
Candidate Hotel – Currently Closed Down, Empty & No Jobs, Nor Local Amenity
Please note this is one of three possible hotels we are aiming to buy. This specific hotel might not be the immediate purchase for project number 26. We are aiming to buy this hotel, it is just the order in which the next hotels are bought may change, depending on various logistics.
We are becoming very excited about this next project. An old, closed hotel. Our offer has been accepted by the liquidator and bank. Our solicitors are progressing the offer and conveyance documentation. Things are still at a delicate stage, but if/when we buy this hotel, it will be our fifth. All of our previous hotels have been profitable and/or created jobs. None, and this is important, none have lost us money. Albeit each has had a fairly unique outcome.
Alcohol, Rooms & Food. The Old Triumvirate Needs Changing
We have a very interesting business model ready to install and illustrate how bankrupt hotels with seemingly no future can be reopened and made viable.
Our last licensed premises that has a similarity to this proposed project number 26 was the old public house: click here. This was a fully fledged Real Dragons’ Den refurbishment and supported reopening. That project is still open and trading 11 years later. When we resold the old pub after refurbishment and business angel mentoring, our official numbers were very encouraging…
£130,000 Gross Profit.
The net profit came in at £90,159. Not a bad result for the four friends who provided 100% equity for our project number 7. For the sake of good form, these profitable results from the past cannot be guaranteed in future projects. But previous efforts may be a guide as to the ability of those involved in getting the next project to work, and work well.
This Is One of Three Hotels We Are Bidding To Buy During 2017
So we are keen to have the conveyance of what will be our groups fifth hotel passed the settlement day so we can get started on proving another point. Turning around old, seemingly redundant buildings and bringing civic amenity, new jobs and a reasonable profit for our core group who will be providing the 100% funding for the enterprise.
The hotel we have earmarked as the very next acquisition had SIX mortgages on it. Little wonder the place closed. Ergo with NO mortgages and a 100% equity business model – plus several other ingredients the Real Dragons’ Den group bring to the project, if we can get this next hotel operating well, then that proves a scalable process. In other words we can repeat this path, simply buying old, closed hotels one after another and reopening them.
This page is admittedly a little vague on how we will be moving project number 26 forward. This is mainly because the contracts have not yet become binding. Once we have concluded the deal and the next stage is ready to commence, we will report detail here for our friends and members to read.
Part of our excitement is the significant numbers of jobs that each reopened hotel will create.
If project number 25 – the hotel venture interests you, please keep an eye on this page.
If you have a closed down hotel near to you, maybe consider getting in touch with us?