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A Newport Rhode Island Small Luxury Inn - $1,250,000.

In a town well known for sophistication and grandeur, this five-room Inn’s opulent style stands out.  It was Rhode Island's First AAA Four Diamond Luxury Inn.  The New York Times heralded it as an innovator in the ‘Bath Butler' trend happening in upscale Inns and luxury Hotels.  It was featured as one of the “Top New England Romantic Getaways” in The Boston Globe and Top 10 "Most Lavish Inns in America” by iLoveInns.Com.  Frommer’s guidebooks highlighted the Inn’s "Amped-Up Sensuality," and ABC TV’s Good Morning America featured the Inn in an "Over The Top Luxury," segment. 

The Inn is well-known for one-of-a-kind pampering of its guests.  Special personal complimentary services include a Pillow Menu and Bath Bar (described by Travel & Leisure) as a “Bath Connoisseur’s Delight” and by the New York Times as, “Bath Bar Decadence”.  The Inn also features twice daily housekeeping, a Water Bar, daily High Tea and its popular breakfast in bed. 

There are a few different profiles for buyers of this property.  Given its downtown location, elegant style, small number of rooms, high room and occupancy rate, the Inn can provide owner/operator(s) a strong, manageable business, affording a pleasant lifestyle, while also allowing for an additional outside occupation, if desired.  Presently the Inn is part of a multi-inn ownership arrangement and could be purchased in conjunction with another Inn or Inns in Newport.  Lastly, its original incarnation was as a privately owned mansion.  Given its easily accessible location to downtown Newport and its well-maintained interior, exterior and grounds, it could be easily converted for use as a luxurious private home again. 

As an Inn, there are five, over-sized elegant guest accommodations.  All of the Inn’s rooms are spacious, up to 1500 square feet in one case, and offer king size beds, large well-appointed bathrooms, period antiques and numerous other high-end features to pamper guests.  The rooms are all different in their configurations and amenities, but most have high ceilings, marble-surrounded gas fireplaces, two-person whirlpool tubs, steam showers and one even has a secret passageway leading to its private salon.

There are no owner’s quarters currently in the Inn, but the basement, which is dry, quite spacious and has high ceilings, could be easily converted into an apartment suitable for owners or an onsite Innkeeper/manager.

Sales of $309,501.00 in 2007 supported the labor expense of a managing Innkeeper.  Using the same sales figure we calculate that new owners operating the Inn could generate cash flow of approximately $150,000.00 before debt service, depreciation and owners compensation.