|Hotel with Landscaped Garden in Siem Reap for Rent
Listing No. 855-21-08-321
Features: Set amidst a beautifully landscaped garden, this hotel with bungalows is within walking distance of the city center, night market and pub street. The land is nearly 1,400m2 and consists of five main buildings and four small bungalows, with plenty of room for camping or expansion if needed. The main buildings are two levels, but one of the buildings has a roof-top terrace which is currently leased out as a bar. The restaurant on-site is also leased out. There are 11 rooms in total – 7 hotel rooms which are very spacious and appointed to Western standards including en-suite bathrooms. Currently, the main-building rooms are configured as doubles and are rented on a semi-permanent basis to local expats more like apartments rather than hotel rooms. In previous times, prior to the government shut-downs and low tourist activity, the rooms were rented as normal hotel rooms with some of the rooms being configured for families and one room as a dormitory. The four bungalows are small and are configured with single beds. One of the buildings on the property was used as the owners’ residence, but is now used for staff accommodation and storage. This building could easily be converted back to owner or manager accommodation if needed.
The current owner of the property manages the hotel, which has been operating since 2014. He is assisted by part time staff only who do the room servicing, cleaning and pool maintenance. Overheads are very low, meaning that even in this period of low tourist activity, the business is still making money (about USD 12,000 a year). It would not be unreasonable to assume, income and profit would be significantly increased when tourism returns and the hotel is functioning as intended. Income (and profit) presumably would also increase if a Lessee operated the rooftop terrace and restaurant as well.
There are two rental offers: 1. Rent the hotel without the equipment and furnishings and 2. Rent the hotel fully equipped and furnished. Either offer can include the use of the rooftop terrace and the restaurant (rather than leasing them to a third party). The property is also being offered for freehold sale (Hard Title), or as a partnership. The hotel may be inspected after completing a Non-Disclosure Agreement (NDA).
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