PROFITABLE! Boutique Hotel / B&B in Boquete, Panama
Location: Boquete, Chiriqui Province, Republic of Panama
Property Type: Hotel / B&B
Sale Price on Request
Built Area: 557 m2 (5,996 sq.ft.)
Total Area: 1,350 m2 (14,531 sq.ft.)
Title Status: Property Title
Property Tags: Mountain
The boutique hotel Casa de Montaña Boquete is a unique opportunity to purchase a stunning and highly acclaimed Boutique Hotel / Bed and Breakfast situated in the beautiful mountain town and tourist resort of Boquete in the highlands of Chiriquí. New owners would be able to continue the operations of this successful business with immediate effect.
The 6,000 ft² property, specifically designed by a renowned local architect as a Boutique Hotel / B&B, was completed in 2013 and has 6 en-suite guest bedrooms, communal areas and terraces for the guests, an office as well as a separate master suite for the owners which can be used as an additional suite.
The property is ideally situated in a quiet neighborhood on the main road just a 10-15 minute walk out of Boquete town center and has fantastic views of the surrounding mountains. Built on just over one-third of an acre, the property has 557.4 m² of covered space, multiple terraces and beautifully landscaped gardens with water features as well as a hotel parking lot for 5 cars. In addition, there is parking in front of the hotel and across the street for at least 5 more vehicles.
All the tastefully outfitted guest rooms in Casa de Montaña are large and have en-suite bathrooms, custom-built furniture, flat-screen TVs, refrigerators, microwaves, a small desk and generous closet space. The 2 guest rooms on the ground floor have access to their own small private terraces and the 4 upstairs rooms each have a balcony from which to appreciate the cool climate and mountain views.
The owner’s suite has an en-suite bedroom, bathroom with Jacuzzi bath, private laundry room, living room, private terrace with BBQ and access to the professional gourmet kitchen which serves both the owners and the hotel / B&B.
The light and airy professional kitchen has cedar wood furniture and black granite counter tops and is fully equipped with state-of-the-art cooking equipment. It has a large serving window to the covered restaurant terrace outside.
The communal areas include the reception and office area, the terrace restaurant with comfortable seating area and a gas fire. There is a covered bar/terrace on the upper floor (complete with gas fire for cozy evenings) which often acts as the meeting point for guests and owners in the balmy evenings. The property has several terraces amongst the colorful gardens which are suitable for yoga or just for contemplation.
A large basement room is currently used as a storage and workroom. The property has several additional storage rooms and a large laundry and linen storage room to service the hotel / B&B operation.
The facilities include a back-up generator, reserve water tank, UV water filtration system, 3 water heaters (sufficient to provide hot water to the kitchen and all the bathrooms), smoke detectors, security cameras and motion detectors.
This hotel / B&B business, now for sale, has been operational for 2.5 very successful and profitable years, with occupancy and revenues showing healthy and consistent growth. The B&B is currently ranked #1 (out of 31) on the Trip Advisor category for the Boquete area, #3 for all of Panama in this category and has already received several industry awards.
The business has been legally incorporated in Panama and has all the necessary licenses and permits to operate in the hospitality and tourism sector, with restaurant and liquor licenses. In addition the office has all the business software required, including on-line booking engine and links with key booking sites. Banking and credit card facilities are in place and reliable staff are currently employed and more than willing to stay. In summary, the business is all set for any new owner to step in and continue the profitable operations from day one without any further investment.
Growth potential is vast:
The owners’ suite can be turned into a full suite and rented out
Retreats / training sessions have been held with capacity of up to 60 participants and can be expanded.
Cooking classes are a great success already and can be further developed
The current owners are selling the property and business as turnkey, complete with all the furniture, equipment and business facilities and records. The owners are also willing to train their successors and the current manager would like to stay on, thus guaranteeing continuity and stable service.
The owners are willing to consider some kind of financing, if necessary.
The main features of Boquete include:
A year-round temperature in the low 20s (low seventies Fahrenheit) with fresh mountain air.
Significant North American expat community and tourist destination, which brings with it a wide range of amenities from which to choose, ranging from hostels to luxury, health spas, reliable infrastructure, with English very widely spoken.
A small town, with a small town atmosphere, surrounded by relatively untouched natural beauty.
The ability, if you choose to venture away from the town, to visit rural, traditional Panama. The beaches are just an hour away.
An abundance of outdoor activities, including zip lining, bird watching, rafting, hiking, and golf.
World famous coffee plantations.
Lots of spas and other health-related facilities.
Up until the early 2000’s, Boquete was a sleepy, almost completely unknown and unremarkable agriculture-based mountain village with almost zero tourism and very few people living in the area whose families hadn’t been there for generations. That changed with a series of events starting with the creation of Valle Escondido, a large residential development aimed at expats. Around the same time, several magazines devoted to people considering to relocates began to flourish, with one of the most popular very regularly touting Boquete as “the land of eternal springtime”.
As a result of the publicity and the natural beauty and temperate climate of Boquete, it became, arguably, the best known North American expat destination in the world, as a large expat community developed.
Boquete is a very cozy mountain village and easily explored on foot. Guided tours through the mountains to see waterfalls, coffee plantations, the cloud forest, white water rafting, and the Volcán Barú National Park are available.