Investment Overview

The Spencer Hotel & Spa offers investors an opportunity to purchase an excellent cash flowing investment with a location that cannot be duplicated inside the grounds of the historic and world-famous Chautauqua Institution. Operationally, The Spencer Hotel & Spa had 2019 Revenues over $550,000 with a net income of $255,000 despite minimal marketing efforts from the long-term owners which represents a 12.75% cap rate based of 2019 revenues. A new owner with a focus on attracting business outside of the 9-week Summer Session could substantially increase revenues and utilize the hotel to its true four-season potential.

The Spencer Hotel & Spa has constant maintenance and improvements including brand new exterior paint with a 20-year transferable warranty in late June 2020. In the past 3 years the hotel has replaced all the gutters, storm doors, replaced the tvs & phone system, fire alarm system and replaced all light bulbs with LED bulbs, among many other improvements. The Spencer Hotel & Spa is currently being run as an independent hotel but conversion to a boutique brand such as Ascend by Choice is potentially available.