Wednesday, 18 October 2017

Elegant Banquet Facilities for Weddings, Corporate & Social Functions (E Coast, USA)



Business Description: This family owned firm, in business for 45 years is 26 years in its current location. There are 150-175 annual weddings. Banquets, social and corporate add another several hundred events. This is an area that can easily be expanded, especially with the addition of a third banquet room.  On six acres of land, this enterprise calls for construction of a four story hundred room hotel. Over the past several years over $600,000 has been spent on upgrades and lighting.  The chairs, and other furniture are insured for $2,000,000.

Operational Strengths:  This facility sits on prime highway arteries, is close to major metropolitan areas, and this enterprise draws upon this East Coast region’s most voluminous amount of weddings. A four story one hundred room hotel will be a profitable complement to the existing facilities. A third kitchen is available for outside catering that is not now in use, but easily implemented. A second banquet room for 600-700 seating will add, upon completion, immediate growth and revenue of 50% or more.

The Transaction: This business will be sold with our without the land, at Buyer’s option. The current owner will remain as employee for up to five years or longer, as desired by Buyer. This enterprise, is poised to move forward with near time business growth of 25-30%.


Financial Summary, $000s

2017 Seller Forecast
2016
2015
Revenue
4,250
3,549
3,859
Adjusted EBITDA
525
354
536

Other Highlights
Location
Financials
Management Team in Place
Years in Business
SIC Classification
East Coast
Reviewed
Yes
26
5812





Direct All Inquiries to:   Leonard Brownstein
                                                       Gottesman Company
                                                                                    
Refer to:  S-1868 LB
Tel: 732-972-8918