4, 5 Star Resort Hotel in Cancun Mexico FOR SALE!!!

4, 5 Star Resort Hotels in Cancun Mexico, I have a deal that you might be interested in. Asking price is 418 MM (firm). They have 90-94% on average occupancy rate year round. NOI in 2009 at 43.5 MM, that is about 10.25% cap. The owner built 58 NEW rooms to accommodate the demand for rooms. The rooms went on line late in February and with a great year in 2010, the NOI is expected to be in the 47-48.5 MM, cap in the high 11’s or around 12. 2000 employees (no union) high retention rate of employees. The seller will stay on an manage the hotel, via separate management agreement. The owner will guarantee buyers a 10% per year. The seller has approx 90 MM worth of debt, period, on the hotels. All resorts are ocean front properties with all beach amenities. The buyer needs to furnish a LOI/Capability letter with lender/bank and a buyer’s bio. If interested, please contact Richard at phhandlers@gmail.com. I’m direct to the sellers rep. Thanks an GOD BLESS!!

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