2022 WAS ONE OF THE BEST YEARS ON RECORD FOR HOSPITALITY SALES…AND THE OUTLOOK FOR 2023 AND BEYOND IS BRIGHT! The past several years have been unprecedented…marked by the Pandemic, international unrest and a fluctuating financial market. And for good reason, this has caused some pause for many new buyers considering a transition into the …
The Maine Hospitality Market – Why Now Remains A Good Time To Buy Read More »
So many financial terms….do you understand what you’re looking at? Your first step, other than working with me as your investment specialist, is to understand the metrics. GRM: GROSS REVENUE MULTIPLIER DCR: DEBT COVERAGE RATIO 8 CAP: 8% CAP RATE COC: CASH ON CASH ADR: AVERAGE DAILY RATE RevPAR: REVENUE PER AVAILABLE ROOM OCCUPANCY (ANNUALIZED …
What about Financing Metrics?Cap Rates, GRM, DCR, RevPar, ADR, COC, oh my! Read More »
This image is just a partial compilation of our 2021 hospitality sales. Our team was on fire and so were buyers! This is Maine, can you blame them for wanting to buy a hospitality business here? We can’t either! Covid caused people from more populated areas to want to move to Maine, with more open …
How Did Covid Affect Hospitality Brokerage and Tourism? Read More »
I say: Tell us something we don’t know! And I am proud to say I represented the sale of The Norumbega mentioned in this article! Read the full story on Bloomberg
This is a very common question prospective buyers ask, hence the explanation here. The answer is simple. Are you (buyer) going to pay their mortgage? No! So you want to see the operating expenses. The gross income less operating expenses before any debt service (mortgage) or owner compensation equals NOI (net operating income). And from …
Why don’t I see the Seller’s Mortgage on the Profit & Loss? Read More »
What is the difference between the ‘down payment‘ and earnest money (sometimes referred to as EM or EMD – earnest money deposit) and when they are owed? Your EARNEST MONEY is a good faith deposit that is held in an escrow account to demonstrate to a seller your commitment to finalize the deal, and how …
This thriving restaurant & inn offers a financially strong option for both investors and owner/operators alike! Built by the renowned Portland architect John Calvin Stevens, the Oxford House Inn sits in the center of downtown Fryeburg overlooking gorgeous farmland and valleys…and is perfectly centered between the Sebago Lake region and the bustling tourist destinations of …
Oxford House Inn – a Very Viable Business Opportunity Read More »
As we continue to evolve with technology, more and more records are paperless, handled by email or automated systems and we just aren’t recording things on paper any more. I don’t know how many inns and lodging properties actually are aware of or adhere to this state requirement, but based on the potential penalty, they …
Guest Registration and State Laws – pretty serious stuff! Read More »
Located on just shy of 3 acres perched high above Frenchman Bay, Inn at Bay Ledge has such an incredibly unique waterfront and cliffs that lead down to the shoreline. The inn offers 12 guest rooms with ensuite baths. The common spaces are plenty and include a large porch with plenty of seating, an in …
The 1802 House Bed and Breakfast Inn is a historic, independent property in the beautiful seaside town of Kennebunkport Maine. The house is of original Colonial design and as the name implies, was built in 1802. Extensions were added over the years, and in the 1990s it was converted into the charming bed and breakfast …
The rates we have been seeing in hospitality lending in Maine for years have been relatively and historically low for commercial loans. However, they keep changing very quickly. Contact me to discuss current rates.
Not everyone who is a licensed real estate agent is a Realtor®?
A Realtor® is a licensed real estate salesperson who belongs to the National Association of Realtors®, the largest trade group in the country. Realtors® are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics. Some Realtors® are brokers, while some are associate brokers or sales agents. These are varying levels of education, licensing and often responsibilities.
And hospitality ‘Consultants’ or ‘Brokers’ not licensed in the state of Maine are not held to any standards the way we are here as licensed Realtors® in Maine, where consumer protection is paramount.
