MLS ID: SMA8023 - Hotel La Ermita

Attention Hoteliers and Condo Hotel Time-Share Specialists: There now exists an opportunity to purchase 80 percent-plus shares of controlling ownership in this grand hotel in the “World’s Best Small City”** through Condo Hotel Posada la Ermita SA de C.V. ownership. In San Miguel´s desirable Centro and perched on a hillside overlooking the city – Condo Hotel Posada la Ermita can offer fresh possibilities for today’s new tourism market with 31 rooms: 25 rooms*** in the Condo Hotel Posada la Ermita SA de C. V. purchase and 6 for existing time-shares (not included in the purchase). Luxury hotel brands such as Rosewood, Waldorf Astoria, Hyatt Boutique and Pueblo Bonito-Vantage are recognizing San Miguel for the tourism growth market that it is…discovered worldwide. With almost 1 acre of possibility with endless views…make a revival of one of the best spaces available in San Miguel de Allende today…in Centro, the very heart of the city– the most desired location of everyone… The current state of Hotel Ermita’s ‘captive guests / time-share ownership’ is approximately 195 condos plus 100 members of condominium shares - giving Hotel Ermita approximately 300 "captive clients" who must pay their fees annually, which, as of this year, represents 3 million pesos per year. The time-share ownership guests represent a captive income for the finances of the business, since the condos and partners are contracted to cover a maintenance fee to the La Ermita Condo-Hotel, whether they use their time or not. The annual recovery of these maintenance fees is an amount that currently covers approximately 80 % of the operating costs of the Condo Hotel Ermita, with this fee indexed to annual inflation, it increases every year. For these commitments in general, with 6 suites during the 52 weeks Condo Hotel Ermita can provide rooms to 416 guest nights, that is, currently Condo Ermita Hotel is at quite a surplus. For the same reason, the weeks that the 6 interval ownership suites are not occupied by the interval ownership system, the free suites may be rented to guests of the hotel.