We are offering for sale, freehold, enthusiastic hospitality buyers, this great 17 room resort, restaurant, coffee shop, bar, swimming pool dedicated to relaxing and having fun for all the family in Up Mung Sub-district, Nong Wua So, South of Udon Thani. The name of the resort is 'Kongchab Resort' and is privately owned, with all licenses in places.
The resort offers a variety of fully equipped rooms from suites to lower end rooms affordable for all. A quick overview: 2 Suites, 15 rooms with en-suites, either with TV or without, 2 separate staff quarters and the Owner/Managers own 3 room house. In addition, the resort has its own vegetable, herb and fruit garden to supply the restaurant.
Yes, the rooms are very affordable and are an integral income earner, but the main attractions are the large 16 Mt. x 8 Mt. x 2 Mt. deep swimming pool surrounding the rooms, a quality restaurant (soon to include another), children's fun area, bar service by the poolside, 5 separate convenient toilets and 8 rental shops offering non competing services, just to mention a few. Even as we write this, construction is also underway on new facilities, such as a new kitchen/restaurant, dining area for 30 - 40 seating's, live music stage and with bar service. Whist you are here, please try the unique Lebanese freshly brewed coffee by the owner.
During most weeks, families from surrounding areas spend daily outings there to enjoy the company of friends plus allow the children to spend time in the large pool. Obviously, there is a small fee for the pool enjoyment. Let the children swim, play water sports whilst you and your friends enjoy a beverage or 2! Food is at the restaurant and home cooked. During peak weekends or booked celebrations, up to 6 staff are employed to satisfy the guests needs.
Now to the facts: Occupancy rate is currently running at approximately 45% with better on weekends and gross turnover is lower than the period of Pre-Covid. Prior to Covid, and with construction still underway, turnover was approximately 4 - 5 million Baht annually, not to forget the asset value you have. I repeat, this was when construction and some rooms were not available. As most business persons would understand, turnover for any business is still returning to normal. However, once all the construction and new facilities are available, turnover will increase and most likely surpass Pre-Covid status. This is obviously dependent on the new owners commitment to providing excellent hospitality for the guests.
At this point, we would like you to view all images and the video within to see the opportunities that lie ahead. You will see why it is a popular destination for many within this district, however, if you were to create a dedicated website attracting tourists/guest, turnover and occupancy rates would improve. In todays world the reach of the internet is the key to improving businesses.
The premises will be sold as is on the day of sale and fully equipped to carry on business. Personal items are excluded in the sale but you will have the option to select older style furnishings that have been stored making way for the new furnishings.
We do say, don't expect a beachside 5 star resort! This is set within a rural peaceful environment where guests can relax and absorb the atmosphere.
Viewing appointments are required. To inspect and discuss this unique resort, please contact Duean (English and Thai) +66943738998 LINE ID kcde041110 or visit the contact page. Ernie (English only) is also available and can be contacted by calling +66851798729 or again, via the contact page.
Our professional opinion: This is an opportunity for those who have experience in hospitality and want to leave a lasting impression on their guests. Whilst the turnover is still recovering from the Covid pandemic, with some heartfelt dedication, expanding the marketing and attracting new guests, it will recover over a period of time. At present, we have appraised on the price of land, buildings, structures, fixtures/fittings, furniture, location and some turnover. The asset value is there.
