TITLED LUXURY HOTEL BOCAS DEL TORO PANAMA, BOCAS DEL TORO
Small Businesses For Sale near Bocas del Toro, Bocas del Toro1st Street Isla Colon, Bocas del Toro, Bocas del Toro 00000
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Reduced $325,000 for Immediate Cash Sale
The beautiful Hotel Palma Royale is for sale on the main island of Colon, Bocas Del Toro, Panama. This hotel was built by three Americans who fell in love with the Caribbean beach town. As they prepare for retirement, they are ready to transition the property to a new owner. The setting is ideal, located just 10 meters from the sea on the quiet Main Street location. The hotel was built with American standards and has recently been renovated. The property is under Law 8, with a location in a tourist zone, which means you don’t pay property tax for 20 years and corporate income tax for 15 years. The owners spent $2.6M on the lot and construction and they are ready to sell! This is an incredible opportunity for a new owner to continue the operations and grow this boutique hotel business.
The hotel consists of 15 rooms, including 10 suites, 4 standard rooms, 1 penthouse as well as a restaurant that is leased out. The restaurant has excellent service, a friendly staff, and great Italian food. The reviews of the breakfast by guests are nothing short of outstanding. The hotel is beautifully landscaped with local flora throughout. It is in high demand throughout the year, but especially during the months of November to February. One famous boater, Jimmy Buffett has enjoyed the penthouse suite!
Hotel Palma Royale is ranked as the #3 hotel in Bocas Del Toro and was a 2018 TripAdvisor Traveler’s Choice Award! Read over 400 amazing reviews on TripAdvisor for an average of 4.5 stars! Reviews on Trip Advisor: https://goo.gl/Bl0epZ
The company has experienced a very steady revenue stream and continue to operate with their same management staff in place for the last few years, while the sellers manage the hotel remotely. Full financial details may be provided to well-qualified buyers upon request (with a signed non-disclosure agreement)-along with a free one night stay to get a real feel for the property.
Registered as Titled property----Finca #8018 Lot size 397m2 Hotel enjoys Law #8 in a tourist zone. No property taxes, no income taxes.
Gross Revenue for Hotel Palma Royale:
- 2016: $432,772.58
- 2015: $451,642.20
- 2014: $507,179.05
Law 8 advantages
Main street location
4 standard rooms
2 bedroom penthouse
Huge Price Drop
- Coastal Property
- Commercial Property
- Hotels / Motels
- Businesses for Sale
- Restaurant & Bar
- Street Address: 1st Street Isla Colon
- City: Bocas del Toro
- State: Bocas del Toro
- Postal Code: 00000
- County: Panama
- MLS#: 60002-17233
- Year Built: 2009
- Courtesy of : United Country Panama Paradise