Hotel project in Costa Rica needs financing.

[Youri B.]

Hello everyone

I own a property in Manuel Antonio valued at around 850 K to 920 K by local real estate agents at its current stage. Currently existing on it is a small hotel/hostel that I am running generating approximately 150K to 175K of revenue per year.

My property is located in the most visited area of Costa Rica.

The property has a trust from a local bank for 475 K

I am looking to refinance the property and its future project for 1.2 million to build a 24 to 27 room hotel. Construction has been evaluated at around 600K. The value of the property after the completion of the new hotel will be approximately 2 million dollars with revenues at around 750 K to a million a year. The revenues and property value are based on equivalent property operating or for sale in the area.

This hotel is located next to my property.

http://www.costaricaretirementvacationproperties.com/property/beach-front-hotel-in-manuel-antonio/

The hotel concept will be a first . Using green magic homes technology the construction time and cost will be unbeatable . ( http://www.greenmagichomes.com/main.php ). The concept was made to fit the high demand for eco hotel in the area and preserve the harmony with the nature of Costa Rica.

The town is covered with mostly outdated hotel from the 1990’s. There is a large need in the town for newer better hotel in the range of 100 to 150 dollars a night hotel.

Tourism is also expanding every year in Costa Rica at a rapid pace. http://qcostarica.com/costa-rica-sets-record-for-tourist-arrivals-2-9-million-in-2016/

Land next to mine is also available for future growth.

See some of the work that has been done on the project already i can go deeper with cost and projections if you are interested.

This concept could easily be a success in Costa Rica and could expand to many other locations.