Hostels for Sale?

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12-17-2016, 08:18
The Roaming Gnome

Hostels for Sale?

I'm interested in buying a hostel in the North Georgia area. Other than the Hiker Hostel which is for sale at 800k, I haven't found any down south. We own property close to Newfound Gap in Tn and have thought about building and have a separate living quarters for hikers. At this point we would prefer Georgia instead. If you hear of any for sale please reply. Thanks. Happy Trails!

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12-17-2016, 11:28
pilgrimskywheel

Hey just curious, which hostel is for sale @ "800k"? I'm figuring you mean AT NOBO Mi. 498. Rhododendron gap? That's the south end of the Grayson Highlands above Damascus - not sure what's there. Then there's 3 Springs Hostel B&B AT NOBO Mi. 806.1 near Buena Vista VA. Too far north than what I think you want. I ask because we're selling a NC property and looking around the AT for something too. Not necessarily a hostel. Thanks
12-17-2016, 12:36
Dogwood

Quote:

Originally Posted by The Roaming Gnome

I'm interested in buying a hostel in the North Georgia area. Other than the Hiker Hostel which is for sale at 800k, I haven't found any down south. We own property close to Newfound Gap in Tn and have thought about building and have a separate living quarters for hikers. At this point we would prefer Georgia instead. If you hear of any for sale please reply. Thanks. Happy Trails!

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Any particular hiker group you aim to service?

Decent amount of hostels serving the AT GA market already.

Have you personally had frank discussions with existing hiker hostel owners that have as a large part of their customers AT users?
12-17-2016, 12:43
MuddyWaters

Just because somethings not for sale , dont mean owners wont consider.
Sometimes its a lot of work to actively sell things. I have some very desireable property I get many offers on each year by people looking me up from tax rolls. I want to sell it. But I dont have time to fool with it, and...Id rather have that money in real estate than stock market at current time. (trump rally aside)

Some hostels are run by retired people. sometimes one of the spouses die. The remaining spouse might be willing to entertain offers. This has happened this year. It would be crass to name names but Id make some calls if I thought I had a viable business case and its what I wanted to do. The worst someone will say is thank you, but Im not interested at this time.

It isnt easy to sell this sort of business. Most owners know that too. This can influence decisions. Josh and Leigh have had the Hiker Hostel listed for several years now for a reason, to try to get top $, because they know when you HAVE to sell it in a defined period, your going to get less. Maybe a lot less.
12-17-2016, 13:02
Dogwood

Quote:

Originally Posted by MuddyWaters

Just because somethings not for sale , dont mean owners wont consider.
Sometimes its a lot of work to actively sell things. I have some very desireable property I get many offers on each year by people looking me up from tax rolls. I want to sell it. But I dont have time to fool with it, and...Id rather have that money in real estate than stock market at current time. (trump rally aside)

Some hostels are run by retired people. sometimes one of the spouses die. The remaining spouse might be willing to entertain offers. This has happened this year. It would be crass to name names but Id make some calls if I thought I had a viable business case and its what I wanted to do. The worst someone will say is thank you, but Im not interested at this time.

It isnt easy to sell this sort of business. Most owners know that too. This can influence decisions. Josh and Leigh have had the Hiker Hostel listed for several years now for a reason, to try to get top $, because they know when you HAVE to sell it in a defined period, your going to get less. Maybe a lot less.

Well, Josh and Lee aren't just selling a Hostel as if it's a separated biz entity from their personal home and land. The Hiker Hostel is an integrated segment of their entire home and lifestyle. They are selling a home and land with an integrated Hostel with the asking price that includes intangible assets.
12-17-2016, 13:10
The Roaming Gnome

Quote:

Originally Posted by Dogwood

Any particular hiker group you aim to service?

Decent amount of hostels serving the AT GA market already.

Have you personally had frank discussions with existing hiker hostel owners that have as a large part of their customers AT users?

I've only spoken to the Saints who own the Hiker Hostel in Dahlonega. They cater to the hiking community and biking.

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12-17-2016, 13:12
MuddyWaters

Quote:

Originally Posted by Dogwood

Well, Josh and Lee aren't just selling a Hostel as if it's a separated biz entity from their personal home and land. The Hiker Hostel is an integrated segment of their entire home and lifestyle. They are selling a home and land with an integrated Hostel with the asking price that includes intangible assets.

I dont argue with that. But facts is facts.
Josh admitted to wanting top dollar, and they werent that serious about selling otherwise.
Which is why its been listed for years.

Im sure they have had a few offers in the last several years they declined, its a great business, but largely because the outstanding work they put into it, at bargain prices.
It would be very easy for someone wanting to wring more profit out of it to totally screw it up IMO. I think it has to be a labor of love, moreso than a business.
12-17-2016, 13:13
The Roaming Gnome

Quote:

Originally Posted by pilgrimskywheel

Hey just curious, which hostel is for sale @ "800k"? I'm figuring you mean AT NOBO Mi. 498. Rhododendron gap? That's the south end of the Grayson Highlands above Damascus - not sure what's there. Then there's 3 Springs Hostel B&B AT NOBO Mi. 806.1 near Buena Vista VA. Too far north than what I think you want. I ask because we're selling a NC property and looking around the AT for something too. Not necessarily a hostel. Thanks

The Hiker Hostel in Dahlonega, Ga.

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12-17-2016, 13:18
The Roaming Gnome

Quote:

Originally Posted by MuddyWaters

Just because somethings not for sale , dont mean owners wont consider.
Sometimes its a lot of work to actively sell things. I have some very desireable property I get many offers on each year by people looking me up from tax rolls. I want to sell it. But I dont have time to fool with it, and...Id rather have that money in real estate than stock market at current time. (trump rally aside)

Some hostels are run by retired people. sometimes one of the spouses die. The remaining spouse might be willing to entertain offers. This has happened this year. It would be crass to name names but Id make some calls if I thought I had a viable business case and its what I wanted to do. The worst someone will say is thank you, but Im not interested at this time.

It isnt easy to sell this sort of business. Most owners know that too. This can influence decisions. Josh and Leigh have had the Hiker Hostel listed for several years now for a reason, to try to get top $, because they know when you HAVE to sell it in a defined period, your going to get less. Maybe a lot less.

Good points. Maybe we'll just build on the property we own in Tennessee. We are pretty close to the AT. We are 10 miles outside of Gatlinburg. Maybe just offer rooms to hikers, pickup and drop off.

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12-17-2016, 16:42
Dogwood

Quote:

Originally Posted by MuddyWaters

I dont argue with that. But facts is facts.
Josh admitted to wanting top dollar, and they werent that serious about selling otherwise.
Which is why its been listed for years.

Im sure they have had a few offers in the last several years they declined, its a great business, but largely because the outstanding work they put into it, at bargain prices.
It would be very easy for someone wanting to wring more profit out of it to totally screw it up IMO. I think it has to be a labor of love, moreso than a business.

Yes, and as you rightly pointed out it has been a LABOR of love that has only become what it has, one of the best hostels for AT hikers, through constant long term devotion and development.

Quote:

Originally Posted by The Roaming Gnome

The Hiker Hostel in Dahlonega, Ga...

If you're serious owning and operating a hiker hostel I suggest you consider talks with Bob Peoples of Kincora Hostel, Curtis Owen of Standing Bear, Winton Porter of Walasi Yi and several others, maybe who are in the earlier stages of developing a hostel who run AT hiker hostels so you get a feel for different perspectives and approaches on running an AT hiker related hostel.

Quote:

Originally Posted by The Roaming Gnome

Good points. Maybe we'll just build on the property we own in Tennessee. We are pretty close to the AT. We are 10 miles outside of Gatlinburg. Maybe just offer rooms to hikers, pickup and drop off.

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That could be an option, starting off slowly getting your feet wet before a huge resource investment. Again, many times running a AT hiker Hostel is more a labor of love than running a hugely profitable biz. And as Muddy Waters said selling to exit, because running a hiker hostel isn't all you thought it would be or what you wanted to invest, can be difficult.
12-17-2016, 16:43
Dogwood

Sir Packs A Lot My wish was answered. TU for posting. :)
12-17-2016, 16:48
The Roaming Gnome

Hostels for Sale?

Quote:

Originally Posted by Dogwood

Yes, and as you rightly pointed out it has been a LABOR of love that has only become what it has, one of the best hostels for AT hikers, through constant long term devotion and development.

If you're serious owning and operating a hiker hostel I suggest you consider talks with Bob Peoples of Kincora Hostel, Curtis Owen of Standing Bear, Winton Porter of Walasi Yi and several others, maybe who are in the earlier stages of developing a hostel who run AT hiker hostels so you get a feel for different perspectives and approaches on running an AT hiker related hostel.

That could be an option, starting off slowly getting your feet wet before a huge resource investment. Again, many times running a AT hiker Hostel is more a labor of love than running a hugely profitable biz. And as Muddy Waters said selling to exit, because running a hiker hostel isn't all you thought it would be or what you wanted to invest, can be difficult.

I'm thru-hiking beginning in March. There will be no better opportunity to meet and chat with the owners of the hostels along the trail. Thank you for the advice.

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12-17-2016, 17:03
Dogwood

@ Roaming Gnome
TU for your decency
All my Best DDubs