Robert Deutsch
Bullhead City, AZ (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Nevada Club Inn, LLC
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Startup
Location:
Bullhead City
Industry:
Real Estate
Year Founded:
2005
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
Limited Liability Company
Description:
77 Unit hotel on 2.5 acres in Bullhead City, AZ, four blocks from the Colorado River, directly across from the Laughlin strip of casinos. NCI has 4 poolside cabanas, 1 kitchen suite, 1 penthouse, and 71 hotel rooms. No F&B. Owned by the Golden Nugget until 2005. Transitioned to independent hotel, and had a 5-year decline after 2008. Current management since 2013 has operated the hotel almost entirely as long term lodging with rents at about $600 per month per room, all inclusive of utilities, amenities such as WiFi, Dish with HBOs and limited services. Current occupancy is 65%. Revenue has gone up from a low of $204,000 in 2012 with average occupancy in the 40% range, to $330,000 in 2014. Some deferred maintenance has been caught up on and improvements made including dozens of new beds, A/Cs, fridges and microwaves, and recarpeting and painting as well as the pool redone with white cement, at a cost of over $100,000, but without any new capital, entirely from revenues. Funds are needed to complete the campaign including room remodeling, roof repairs and sign repair, as well as to pay delinquent and current year's property taxes. Lender, partner or investor would be welcome.