Location:                                                 Central New Jersey  

            Gross Sales:                                             Not applicable

            Cash Flow                                                 Not applicable

            Asking Price:                                            $2,500,000        

            Reason for Selling:                                 Other business interests                                                  

A preliminary hotel site plan has been approved from the local planning board to construct a 102 room hotel on 7.4 acres with 492 ft of highway frontage. The plan includes reserved sewer capacity with RTMUA. The hotel will be 3 stories with small meeting rooms, a breakfast room, a swimming pool in the main building and a separate restaurant with a capacity for 62 people. The site for this hotel is very desirable because it is located in a demographic area that has one of the highest hotel occupancy rates in NJ. All requirements have been submitted for final approval, which is expected to come in the very near future.

The seller has already received an approval from the Inter Continental Hotels Group for a Holiday Inn Express for this location (Dec 2011). Application for the permit for premise consumption of alcoholic beverages has also been filed with the ABC Board.

Once final approval from the planning board is granted, detailed construction drawings for the bidding process will be undertaken & actual construction to follow. The expected opening of the facility is spring 2013.

A savvy buyer will embrace the seller’s strong foundation of experience and knowledge in the area of hotel property development. He or she will realize the demographic benefits of this specific location and take advantage of the ground work that has already been put forth by the seller.

A five year plan for growth will include implementation of construction plans (either those developed by the seller or the buyer) and an aggressive hotel sales and marketing campaign.

The ideal buyer will be a private equity or other experienced group who recognizes the potential of this opportunity and can provide the resources for construction, capital and marketing.