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PROPERTY INFORMATION
Sale Price: $3,900,000
Square Ft.: approx 20,000
Year Built: 1895, was completely rebuilt after a fire in 2003.
Guest Rooms: 25
Other: 9 acres
Description of Inn
This Inn is a successful resort property in a popular destination village in the White Mountains of New Hampshire. It is not only one of the premiere properties in New England; it may be considered one of the best Inns in the country. In addition, its location in a popular town provides plenty of destination travelers to draw from. The Inn is also near upscale outlet shopping and is conveniently located to all of the White Mountain activities and attractions. The Inn’s location is ideal for day trips to explore both the mountains and seacoast; it is just over an hour to the coast of Maine and 2.5 hours to Boston, the Inn’s primary market.
This Inn has twenty-five guest rooms in five buildings on nine acres, which provide an impressive base value for the Inn of over $3 Million. In addition, the number and quality of the support assets and the business activity of the restaurant provide strong additional value to the Inn’s overall value. The rooms are large, and there are numerous fireplaces and whirlpool tubs, as well as the large dining rooms, kitchen, expansive porch and state of the art wine cellar. There are additional assets and ancillary business opportunities on the property, a full-service spa, pool and outbuildings which make the Inn a successful and attractive business. There is an additional separate but neighboring owner’s home which would be included in the purchase at an additional cost. The Inn is a member of Select Registry and is highly touted nationally.
The Main Inn building was completely renovated in 2003. The Inn has been well marketed and has a strong income. Last year the business generated $1.65 Million in total sales, which is impressive, but was down from previous years. The occupancy was at slightly below 50%, again a slight decline from previous years (down from 55% in 2007 and 2008), but still quite good for a New England Inn given the recent economic situation. We believe with judicious management and given the Inn’s strong history, excellent facility and existing marketing efforts, the Inn at Thorn Hill could achieve similar results to recent history in the near future.
This property is for sale by owner at a price of $4.6M, but Hiler Hospitality is pleased to be able to assist the owners with the transaction. Please contact Husy for more information at 802-451-1934 or emailing nhinnkeepers@gmail.com.