Ballastone Inn Savannah, Georgia · bath, are the hallmark of the Ballastone Inn. A full breakfast daily and afternoon tea plus a full bar provide a quality Inn experience in the

Ballastone Inn Savannah, Georgia

# 1 Rated Inn and B&B in Savannah for 2018!

Offering Report

The Ballastone Inn is a 16 guestroom, refurbished Italianate mansion (circa 1838) located in the heart of Savannah’s Historic District. Its reputation as a luxury Inn is due in part to the Inn’s commitment to providing guests an authentic taste of southern charm and hospitality. Paul Newman, a former guest of the Inn, once referred to it as, “a delightful slice of the old south” and this sentiment couldn’t be any closer to the truth. Over the years, the Inn has garnered two awards for its historic preservation, from the Historic Savannah Foundation and the National Trust. The Inn is a member of Select Registry: Distinguished Inns of North America, BedandBreakfast.com’s Diamond Collection and is a AAA Four Diamond Recipient. Coupled with an occupancy rate, in 2017, of 53% and an Average Daily Rate of $307.00, the Inn’s cash flow is equally charming.

Location

Savannah, Georgia, is a very active (HOT) market and almost as HOT as the Ballastone Inn. How hot is the Ballastone Inn? Ballastone Inn has just been named the # 1 Inn and Bed and Breakfast in Savannah for 2018!! This is a terrific honor and now you have an ideal opportunity to gain access to it. Located on the very popular Oglethorpe Avenue in Savannah’s Historic District, the Ballastone Inn is four blocks from the Savannah River and Forsyth Park. The Inn has guaranteed high visibility to the thousands of tourists who walk, ride and bike by this Italianate masterpiece every day! (There were roughly 14.1 million visitors to Savannah in 2017 alone!)

Main Entrance on Oglethorpe Ave during the holiday season

Facility The Inn has 16 luxurious guestrooms with private baths, flat screen TVs, Wi-Fi and world class amenities. The Inn’s public spaces include an ornate bar and lounge, a stately sitting parlor with fireplace, an inviting dining room and a garden courtyard with fountain, used for breakfast, high tea and other intimate events of up to 30 people. In addition, the Inn has an elevator to all floors for guest use and a small bedroom with private bath for owners or Innkeepers.

Sitting room of the Ballastone

Ornate Bar and Lounge at the Inn.

The Grand Foyer.

Breakfast in the courtyard

Breakfast in the Dining Room

High Tea in the Living Room

Business

Savannah is a strong destination market with tourist spending estimated at $2.91 Billion for 2017. The Ballastone Inn’s reputation is well known for its luxury services and amenities. When combined, this provides a steady stream of guests (5881 in 2017) and cash flow ($234,496.00 in 2017) throughout the year.

Intimate weddings are a specialty at the Ballastone Inn, providing an additional revenue stream beyond room revenues.

Small weddings in the courtyard

Wedding Rehearsal Dinner at the Inn

Sleeping Rooms at the Ballastone Inn Sixteen luxurious rooms, with detailed appointments and each with a private bath, are the hallmark of the Ballastone Inn. A full breakfast daily and afternoon tea plus a full bar provide a quality Inn experience in the heart of Savannah.

China Trade Suite

Victoria Room

Ballastone Inn

Fact Sheet Name Ballastone Inn Address 14 E. Oglethorpe Ave. Savannah, GA 31401 Price and Terms $4,500,000.00 Acreage 1/3 acre +/- city lot Number of rooms 16 rooms all with private baths Room Amenities Wi-Fi, flat screen TVs, HD cable and telephones in all

rooms; working fireplaces in 10 rooms; all rooms with King or Queen beds; turn down service, complimentary port/sherry and afternoon tea, Turkish towels and robes.

Public areas Sitting room with fireplace, private expansive bar with

additional seating, garden courtyard with outdoor seating and guest elevator to all floors.

Public External Nine parking spaces with surveillance. Strengths: Physical *Well-appointed Italianate Mansion (circa 1838)

located in the heart of Savannah’s Historic District, four blocks from the Savannah River and Forsyth Park.

*Private parking on site! Business *53% occupancy in 2017, ADR of $307, accolades

and awards from Travel and Leisure, New York Times, Fodor’s and countless others. Featured by Zagat’s as “Georgia’s Best Inn”.

Opportunity: *Expand market share with OTA’s on the wildly

popular destination of Savannah, GA. *Take the extra room being used as an office and

return it to inventory making 17 rooms available to the public. This could potentially increase room revenues by almost $60,000.00 per year!

Memberships: Member of Select Registry: Distinguished Inns of North America and BedandBreakfast.com Diamond Collection. Recipient of AAA Four Diamond Award and Certificate of Excellence from Trip Advisor.

Website: www.ballastone.com

Ballastone Inn Financial Performance

Here is a summary of sales activity for 2015, 2016 and 2017 with a column of future projections. Detailed financials are always available to serious and qualified Buyers.

Ballastone Inn 2015 2016 2017 Future

Number of Rooms 16 16 16 17

Occupancy Rate 59% 48% 53% 59%

Average Price/Room $306 $351 $307 $306

Annual # of Rooms 3450 2803 3095 3682

Number of Guests/Year 6555 5326 5881 6996

SUMMARY

Sales

$1,051,844 $984,611 $983,779 $1,213,142

Cost of Goods $76,943 $63,959 $60,004 $79,751

Gross Profit

$974,901 $920,652 $923,775 $1,133,390

Expenses

Labor Related

$270,454 $308,732 $280,833 $256,177

Operating Expenses $226,783 $222,503 $216,312 $213,557

Marketing

$34,150 $44,807 $45,080 $49,460

Occupancy Expenses $146,222 $112,825 $147,054 $149,490

Total Expenses $677,609 $688,867 $689,279 $668,683

Cash Flow pre Debt, Owner, Deprec. $297,292 $231,785 $234,496 $464,707

Ratio Cash Flow to Sales 28% 24% 24% 38%

Price: $4,500,000.00 Down Payment (25%): $1,125,000.00 To be financed: $3,375,000.00 Annual Debt Service: Mortgage payments for $3,375,000.00 at current interest rate and terms (5% interest/20 year amortization) are $267,288.00/year. Of that, $100,822.00 is principal reduction and $166,460.00 is interest. ------------------------------------------------------------------------------------------------------------

Cash Flow (2017): $234,496.00 Cash Flow (Future): $464,707.00 Less Annual Mortgage Payment $267,288.00 Less Annual Mortgage Payment: $267,288.00 Surplus Cash Flow: -$32,792.00 Surplus Cash Flow: $197,419.00

Cash Flow (2017): $234,496.00 Cash Flow (Future): $464,707.00

Less Interest: $166,460.00 Less Interest: $166,460.00 Net Profit: $68,036.00 Net Profit: $298,247.00