NEW LISTING! This is truly the most outstanding and best available business opportunity to purchase a successful, one of a kind, award-winning, top-rated "5 STAR" furnished bed and breakfast business in New England. Rated as the # 1 "B & B" and hotel in the Newport, The OCEAN ROMANCE yacht, a licensed hotel, is the ONLY "5 STAR" rated "Bed and Breakfast" in the Newport area. Also rated as the #1 LOCATION and the # 1 BREAKFAST based upon GUESTS' reviews!
Priced to sell as a package for a discounted price of $995,000! Realtors and B & B brokers and yacht brokers protected with prior arrangement with seller. Commercial loans are available through to purchase bed & breakfasts.
Location! Location! Location! Situated in the historic tourist destination of Newport, Rhode Island, the Ocean Romance dockside bed and breakfast yacht is within walking distance to downtown Newport's restaurants, bars, shopping and countless attractions. The Ocean Romance yacht, a licensed hotel which opened in 2012, is a well-established, viable, successful, "turn key" operating dockside bed and breakfast business with proven marketing in place. This classic 80' Bertram cockpit motor yacht is a five (5) stateroom (each with ensuite bathroom) vessel afloat in Newport Harbor at Goat Island Marina just 100 yards from famous wedding venues such as the Hyatt Regency, Belle Mer and Regatta Place! It is ideal for a "liveaboard" couple or for partners to operate this thriving hospitality business.
Guests prepay by credit card to stay on the Ocean Romance dockside bed and breakfast yacht! Approximately $135,000+/- gross cash flow income stream projected for the mid-April to mid-November seven (7) month season renting three (3) private guest rooms with king and queen size beds and serving guests a morning continental breakfast. Earn more income from three (3) guest rooms for substantially less work than required by those larger land-based bed and breakfasts with more guest rooms which entail greater responsibility, higher acquisition cost and stifling overhead! The Ocean Romance yacht's bed and breakfast income is sufficient to cover both current overhead and generate a substantial net income ($75,000-$85,000+ annual NOI-net operating income after standard expenses) while effectively living aboard the yacht for free in very spacious, comfortable and private owner's quarters with LR/DR, 2 BR and 2BA plus large galley (kitchen). Free parking at Goat Island Marina!
The occupancy rate renting three (3) guest staterooms is approximately 45% with an average daily guest stateroom rental rate (ADR) of $389 (with tax.) Alternatively, a buyer could rent all five (5) staterooms, offer the yacht for charter and/or operate year round for even greater income in Newport or elsewhere. Yacht refit 2012-2016. NEW EXTERIOR PAINT 2016! The discounted list price of $995,000 USD includes the well-maintained 80' Bertram yacht, the yacht's furnishings and equipment (except owner's personal effects), the profitable bed and breakfast business, Ocean Romance LLC, with hotel license, the yacht's name, good will, website, cellar telephone number and email address. Pro-rata adjustments may be made for necessary, agreed upon repairs/expenses/rental income as of date of closing. The same maintenance professionals will be available to continue to service the yacht after sale for ease in ownership transition. In addition, owner will mentor buyer to effectuate a successful change of ownership/operating transition. Owner retiring for health reasons.
Please see website at and current bed and breakfast listings with 5 STAR guest reviews on , and .
Built in 1977, refit 2000 and 2012-2016; NEW EXTERIOR PAINT 2016
5 years as successful B & B
Last renovation in 2016
3 Guest Rooms (2 more in Owner's Quarters)
3.50 Guest Bathrooms (2 more in Owner's Quarters)
25 Parking Spots
Has spacious, private Owner's Quarters
45% occ. rate for 7 months of operation
$389.00 avg daily rate
$135,000+ gross revenue (room rentals) projected for seven (7) months in 2016