Property Address: 5 Marina Plaza – Dock S
Newport, Rhode Island 02840
Contact: Dave, Owner
Contact Email: OceanRomance@mail.com
Contact Telephone: 401-440-6080
Contact Toll-free: n/a
Contact Fax: n/a
Property URL: https://www.oceanromanceyachtbnb.com
Date Business Established: 06/22/2012
Trade Association Affiliations:: Newport Chamber of Commerce
Financials Verified: Yes
Area Description: Situated in the historic tourist destination of Newport, Rhode Island, the Ocean Romance B&B Yacht is within walking distance to downtown Newport’s restaurants, bars, shopping and countless attractions.
Site Description: Goat Island Marina, Dock S on Goat Island in downtown Newport, Rhode Island is just 100 yards from famous wedding venues such as Gurney’s Newport Resort & Marina, Belle Mer and Regatta Place. Spectacular panoramic water view in all directions will free parking.
Structural Description: The Ocean Romance B&B Yacht is an 80’ Bertram cockpit motor yacht with 5 staterooms and 6 bathrooms. Each stateroom has an ensuite bathroom, plus half bath (day head) in the main salon. It is fully furnished, has 300 AMP electrical service, a fully remodeled galley with new appliances and 8 televisions. An interior door at the Lower Helm driving station separates the forward section from the aft (rear) section. The aft section has a huge Main Salon with 2 seating areas, TV, bar and day head, a rear exterior cockpit seating area and circular stairs leading up to a large Fly Bridge Lounge with TV, radio, circular seating and another driving station. Circular stairs lead downstairs aft to 3 staterooms, including the full beam master suite with king bed and full bathroom, and 2 queen bed staterooms with ¾ bathrooms located across the hallway. There is a laundry closet located in the hallway at the bottom of the circular stairs. The forward section has a large living/dining area, new galley, queen bed stateroom with ¾ bathroom and crew quarters with 2 bunks and ¾ bathroom. There is ample storage throughout the yacht.
Offering: This is truly the most outstanding and best available business opportunity to purchase a successful, one of a kind, award-winning, top-rated “5 STAR” furnished bed and breakfast business in New England. Consistently rated as the #1 “5 Star B&B” and hotel in Newport, Rhode Island.
The Ocean Romance B&B Yacht, a licensed hotel, is the ONLY “5-STAR” rated “Bed and Breakfast” in Newport! Also rated as the #1 LOCATION and the #1 BREAKFAST based upon GUESTS’ reviews! Priced to sell as a package for a discounted price of $595,000.
It is ideal for a “liveaboard” couple or for 2 partners to operate this thriving hospitality business. The average daily room rate (ADR) averages $401 over the past 6 seasons and was $438 for the 2018 season which is substantial. The average occupancy rate is 55% during the 6 months of operation. Alternatively, a buyer could elect to rent all five (5) staterooms, offer the yacht for charter and/or operate year-round for even greater income in Newport or elsewhere. The discounted list price of $595,000 USD includes the well-maintained 80’ Bertram yacht, the yacht’s furnishings and equipment (except owner’s personal effects), the profitable bed and breakfast business, Ocean Romance LLC, with hotel license, the yacht’s name, good will, website, cellular telephone number and email address. Pro-rata adjustments may be made for necessary, agreed upon repairs/expenses/rental income as of date of closing. In addition, owner will mentor buyer to effectuate a successful change of ownership/operating transition. Owner retiring for health reasons.
Please see website at www.OceanRomanceYachtbnb.com and current bed and breakfast listings with 5 STAR guests reviews on booking.com, expedia.com, tripadvisor.com, and homeaway.com.
Occupancy %: 55
Average Daily Rate: $438
Income from Room Sales: $113,000
Property Taxes: 0
Electric: Included in dock fee
Water & Sewer: Included in dock fee
- Classic pedigree yacht with great floor plan layout on 3 levels.
- Large interior and exterior areas refit continuously 2012 to 2019.
- Proven track record as successful income-producing bed and breakfast yacht hotel. Could also be used as a charter vessel or family yacht.
- Well maintained in good mechanical condition.
- Unique floor plan layout perfect for a bed and breakfast, charter boat or family yacht. Separation of interior areas for privacy.
- No sales tax upon purchase if registered in Rhode Island.
- No personal property tax on vessel if registered in Rhode Island.
- Built in 1977, major refit 2000 and 2012-2019; New exterior paint 2017
- 8 years as successful Bed and Breakfast in Newport, Rhode Island
- Last renovation in 2019
- 3 Guest Rooms (plus 2 additional bedrooms in Owner’s Quarters)
- 3.50 Guest Bathrooms (plus 2 more in Owner’s Quarters)
- Free parking at marina
- Spacious, private Owner’s Quarters
- 55% average occupancy rate during 6 months of operation
- $438 average daily room rate for 2018 season
- ADR $401 average for the last 6 seasons
- $113,000 average seasonal gross revenue (room rentals)