Buzios Boutique Hotel
Buzios Boutique Hotel for sale
Established in 1981, the Martin Pescador Boutique Hotel is one of the first hotels built in Armação dos Búzios, one of the most beautiful and sophisticated tourist destinations in Brazil. For those seeking tranquility, privacy, or a romantic and magical getaway, the Martin Pescador Boutique Hotel offers the following amenities:
– Beautiful oceanfront location on Manguinhos Beach
– Private oceanfront balconies with expansive views of the sea below in every suite
– 18 suites, either standard or deluxe (larger with 2 living environments)
– All suites have a queen size bed that is slightly elevated so guests never lose sight of the sea, as well as cable TV, air conditioning, free wireless Internet (Wi- ‐Fi), telephone, minibar, safe with key, and DVD player (Luxury Suites).
– Swimming pool
– Sauna
– Beauty and body treatments that can be enjoyed in the Location:
Rooms or in sessions outside facing the beach Waterfront bar.
– Waterfront lounge
– Upstairs bar
– Air conditioning in all guest suites
– Game room (billiards table)
– Outdoor beds
– Proximity to the shopping, fine dining, and nightlife of Buzios
– Unencumbered by both management and brand.
Property Location
The Martin Pescador Boutique Hotel was built in 1981 in Armação dos Búzios, one of the most beautiful and sophisticated tourist destinations in Brazil. Armação dos Búzios is a popular resort town located in the state of Rio de Janeiro. The peninsula was made popular by the legendary movie star Brigitte Bardot and has 23 beaches and 18 islands in its vicinity.
The west of the peninsula offers clear and calm coast for a quiet relaxing vacation, while the east side offers wild adventures such as windsurfing and other water sports. Each beach offers a different experience, and every personality is bound to find a suitable beach here. Some of the popular beaches in the area include João Fernandinho, Azeda, Ferradura, and Manguinhos. While João Fernandinho is known for its seafood and drinks, Manguinhos is known for water sports, especially wind surfing. In addition to beaches, the peninsula also has an active scene of restaurants and nightlife.
Martin Pescador Boutique hotel is located in Enseada do Gancho, 15- ‐A, in Manguinhos in Armação dos Búzios, Rio de Janeiro, Brazil on the northern coast of Armação dos Búzios. Located 2 and half hours from Rio de Janeiro, Martin Pescador is the only hotel situated on the edge of the calm and crystalline waters of Manguinhos beach.
The hotel is close to many transportation points and tourist attractions. It is about 2 mile (5 minute on cab) from Rua Das Pedras, the cobblestone street that is the center to all the restaurants, bars, shopping, and nightlife.
About the Region (Buzios)
Búzios (officially known as Armação dos Búzios), an 8km peninsula, a former fishing village located in Região dos Lagos, in the state of Rio de Janeiro, Buzios is about 165km from the city of Rio de Janeiro. The peninsula was popularized by legendary movie star Brigitte Bardot in the 1960s and is now one of the top resort destinations in all of Brazil. Búzios has 23 beaches, each one with its own unique characteristics sandy or rocky, large or small, and windy or calm. The main strip, Rua das Pedras, is the home of the shopping, fine dining, and nightlife of Buzios. The peninsula also has two nature reserves: the Emerências Reserve, where you’ll find the purest Atlantic Forest vegetation, with exotic plants, bromeliads and the last golden tamarin monkeys in the region, and the Taua Reserve, where you can see over 300 species of butterflies and 60 types of birds.
Opportunity
The opportunity now exists to purchase the Martin Pescador Boutique Hotel unencumbered by both management and brand. With some renovation the property will be positioned as one of the top upscale boutique hotels in the Buzios Market.
Property Overview:
Established in 1981, the Martin Pescador Boutique Hotel is one of the first hotels built in Armação dos Búzios, one of the most beautiful and sophisticated tourist destinations in Brazil. Located 2 1/2 hours from Rio de Janeiro, on the edge of the calm and crystalline waters of Manguinhos beach, the hotel, which was renovated in 2007, offers 18 individually decorated suites, all featuring a balcony and view of the sea – ‐ a beautiful setting where guests can enjoy the orange Sunset and calm reflection of the moonlight night.
- 5 buildings in total: main building, waterfront building, 3 bedroom house, laundry building, and lounge building
- 18 guest rooms: 7 luxury suites and 11 standard suites, all ocean view with balconies
- 3,260 m2 (35,090 Sq Ft) in total
- Swimming pool, sauna, TV room, bar right next to the beach
- Beauty, body treatment, relaxing massages available in rooms or on beach
- Proximity to beach area as well as Rua Das Pedras, the main street with restaurants, bars, and nightlife
- Offers privacy, tranquility and intense contact with nature
- The only hotel on Manguinhos Beach
- Large windows provide breath‐taking views
Dining:
The hotel has one restaurant. The cuisine combines the best of Mediterranean and Brazilian cuisine of the region, such as seafood, tropical salads, meat and pasta, and appetizers that can be delivered in the guestrooms, or offered in the hotel restaurant, or outdoors.
Recreational Facilities:
Martin Pescador Boutique Hotel offers swimming pool, sauna, TV room, games room, bar with direct access to the beach, and gazebos for guests to relax on the beachfront. The hotel also offers beauty and body treatments. Manicure, pedicure and hair stylists are available to guests, who can also enjoy relaxing massages in the rooms or in sessions outside facing the beach.
Property Construction
The building was built in 1981 and is in excellent condition. It is constructed with100% masonry. The building has Spanish- ‐style white stucco exterior featuring wood- ‐frame hinged windows and terra cotta roofing.
Mechanical Systems:
There is no central HVAC systems but each room has individual window air conditioning units. The house also has 2 brand new larger window units. Plumbing throughout all the buildings are in good condition.
Hotel Management Agreement:
There is no management agreement. The hotel is owned and managed by Sunscreen Group Limitada, a Brazilian limited liability entity.
Zoning By-Laws:
The town of Armação dos Búzios has been a popular resort destination for many years and currently has no zoning or by-laws that affects the establishment.
Real Estate Taxes:
There are annual Real Estate Taxes and Waterfront Taxes at 8,000 Reals and 21,000 Reals respectively.
Environmental Analysis:
Ownership has revealed no environmental issues or hazardous waste issues that would impact the subject property.
Guestroom Description:
There are two types of suites that make up the total of 18 guestrooms: 11 Standard, with queen size double bed, and 7 Luxury, more spacious with two rooms. Both types of suites are equipped with color television, air conditioning, telephone, minibar, safe, and free wireless Internet (Wi- ‐Fi), available throughout the entire property, including bedrooms. Each of the 18 individually decorated suites offer balconies with expansive views of the sea below.
Target Market:
The target market is primarily people from Rio de Janeiro, and other cities in Brazil (Belo Horizonte, Sao Paolo, etc.) The hotel also attracts other South Americans from Argentina, Chile, Venezuela, etc. Finally, the hotel attracts visitors from Europe ‐ Portugal, Spain, England, Italy, Russia, etc, and Americans and Canadian stay at the hotel from time to time.
Lease and Service Agreements:
The subject property is subject to minor service and lease agreements such as water, electric and utilities, and pest control. All actual expenses are reflected on the Profit and Loss statement, and all contracts will be provided to interested parties.
Additional Information:
There is an adjacent property immediately to subject Hotel west which is a vacant commercial lot. The owner of the lot has expressed interest in selling, and interested parties could purchase and expand.
Brazil Macroeconomic Outlook
Demand in the Brazilian market continues to grow, increasing about 8% (YTD, Feb 2010), and the appreciating Brazilian Real caused the ADR growth as the exchange rate altered (e.g.from 2.37 Real to the Dollar in February 2009 to 1.86 Real to the Dollar in February 2010.
(Source: STR Global)
The expectation is of strong GDP expansion (+5.35 percent), a stable exchange rate, and an increase lending rate). While the global economy has shown no signs of recovery, Brazil has emerged as an option: foreign direct investment (FDI) for 2010 (projected at US$37.5 billion) will be at its second-highest level in history, despite the expected reduction in global FDI. (Source: HVS Brazilian Hotel Market Overview 2009/2010)
The favorable situation has made the Brazilian hotel industry especially attractive. Large international hotel chains have set up development teams in Brazil. There are other reasons for the attention:
- The country will be hosting the 2014 World Cup and the 2016 Olympics events that induce demand, increase international visibility, and set a deadline for the execution of large public investments, thereby increasing executive confidence and ensuring strong economic activity.
- Creation of Pro-Copa line of credit, which will make available R$1 billion for the renovation and expansion of the hotel supply, with attractive interest rates and terms (starting at 6.9 percent, in up to 18 years), through the Brazilian Development Bank BNDES. The new financing conditions will make projects more feasible and give developers and owners good mechanisms for financial leveraging.
(Source: HVS Brazilian Hotel Market Overview 2009/2010)
This offering is comprised of the fee simple interest in the Martin Pescador Boutique Hotel (the “Hotel”), located 165 km (2.5 hours) northeast of Rio de Janiero on the edge of Manguinhos Beach on the northern coast of Armação dos Búzios. The property sits on 3,260 m2 in the beach section of Buzios, RJ, Manguinhos, Brazil. The hotel, which was renovated in 2007, contains 18 suites, all featuring a private balcony and view of the sea. In addition to access to the Manguinhos Beach, the Hotel offers a swimming pool, sauna, and beauty and body treatments. The hotel is being offered unencumbered by both management and brand.
Asking price: US$2.5 million
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