Property Description
Passport Advisory Group is pleased to offer, on an exclusive basis, the sale of the El Morroco Inn & Spa ("Hotel" or "Property") located in Desert Hot Springs, California. The 1o-room hotel opened in 1959 and recently completed the renovation. The property is in excellent physical condition and is situated on 24,025 square feet of fee-simple interest property.
Desert Hot Springs lies in the foothills of Joshua Tree National Park in the southeastern part of the state of California. Dessert Hot Springs is located within the Coachella Valley in Riverside County and was built over one of the worlds finest natural hot mineral water aquifers. Since the 1950's the city has become a premiere tourist destination for those seeking a true spa experience, the tranquility of the natural desert environment and the therapeutic benefits of its mineral-rich waters.
Key Investment Highlights
- Increasing Revenues - For the August 2011 Trailing Twelve Month ("T12") period, the El Morocco Inn & Spa room revenue has increased approximately 24.75% over the same period in 2010;
- Renovated & Well-Maintained Asset - Recent renovations provide limited near term capital expenditures;
- Redevelopment Opportunity - The Property sits on a 0.55-acre (24,045 square feet) tract of fee-simple land and gives a new owner an opportunity for redevelopment and/or additions to the Property;
- Ideal for Owner/Operator - Allows for ease of management and reduction in departmental expenses;
- Unencumbered by Management - The Property is being offered unencumbered of management.
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