Monday, February 22, 2021

Hesitant to take on an Inn with a renown restaurant business?

While Hartstone Inn's restaurant has long been a staple in the restaurant scene in Maine, and with nationwide recognition, the lodging side of the business is very strong for the industry. 

In 2019, the rooms side of the business represented nearly 70% of the revenue and their room occupancy is a near match at 68%. 

The national occupancy for hotels in 2019 was 66%, keeping in mind this is driven a great deal by the large cities with national brand hotels. The typical small inn or B&B with 4-11 rooms sees an average occupancy around 45%. 

So Hartstone Inn, Restaurant and Hideaway is well positioned in the market, with a strong lodging business and restaurant small enough to manage but busy enough to supplement the income and help fill rooms. The lodging side of the business has far greater margin than the restaurant side, making this scenario ideal for someone hesitant to take on a restaurant with such a reputation. Just small enough for intimate dining on a smaller scale, with the much greater bottom line on the rooms side. Any way you look at this business, it's strong.

Built in 1835, the architecturally splendid Hartstone Inn and Hideaway is an enchanting escape in the heart of Camden. The Hartstone building is a fine example of a Mansard Victorian which features an iconic slate mansard roof with dormer windows and brackets which are the hallmark of the style.

This property offers three unique buildings, with 22 lovely rooms and suites and 1 apartment rental, with beautiful gardens and their well known, on-site 20 seat restaurant and bar, which is located in the Hartstone building.

For more information, check out the listing on my website and download the offering.

Contact me with any questions!

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