An established boutique hotel with huge growth potential in a secluded setting minutes from Fiji’s capital has gone up for sale.
Tagimoucia House Hotel offers 18 air-conditioned rooms, a licensed restaurant and bar, and a brand-new swimming pool and entertainment area. It is set amid landscaped grounds in a private bush-clad haven beside a mangrove reserve, yet is just a few kilometres from central Suva.
Marketed via global booking sites Expedia and Booking.com, the hotel attracts the bulk of its guests from overseas with a current focus on families and couples. Strong cashflow and bookings underpin a projected gross income of $500,000 for 2024.
John Greenwood, of Bayleys Real Estate, said there was significant scope to expand the hotel’s existing guest reach, scale and scope of the operation.
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“The time is ripe for a new owner to bring their vision and add value to this established cashflow business. The site’s zoning provides for an almost doubling of existing room numbers to 34. Demand for these is backed by a national shortage of hotel rooms as Fiji’s tourism industry rebounds vigorously post-Covid.
“There’s also tantalising potential to add other activities to grow the business. It would make a great wedding venue, or a small business conference centre. New owners could also introduce a gym, or the property could be developed into a wellness centre, with the addition of a spa and treatments.
“Subject to any necessary planning approvals, there could also be possibilities to repurpose the premises as a prime rest home or hospital for the aged care market.
“Alternatively, a new owner could investigate a conversion to luxury apartments or a commercial office complex, with a significant area of land available to support further development,” Greenwood said.
Tagimoucia House Hotel, located at 11 and 12 Tagimoucia Place, Laucala Beach Estate, in Nasinu, Suva, is being marketed for sale by negotiation, through Greenwood and colleague Rick Kermode, of Bayleys.
Included in the sale are buildings of about 1070sq m on some 3390sq m of freehold land.
The main three-level building of some 1000sq m contains the guest rooms, an expansive lounge and fully-licensed bistro. The ground and first floors contain three more kitchens, while the top floor – housing the bistro – offers sea views.
Tagimoucia House Hotel was established in 2011 with six guest rooms, and by 2017 this had grown to the current 18 deluxe, executive and family rooms. All executive and some family rooms have balconies and all rooms are fully furnished.
Last year the hotel added a swimming pool surrounded by a significant area of decking, along with a shower/change room and toilet block and a poolside bar and café.
Plans for a 30-square-metre extension to the reception have been lodged with the local council.
Kermode said these enhancements would further boost the hotel’s marketability going forward.
“There are also recreational attractions for guests staying here which can be further built on. The site contains a full-sized volleyball court and Suva Golf Course is two minutes’ drive away.
“A new owner could add to these recreational options by building a small jetty to facilitate kayaking in adjacent streams to explore the pristine mangrove reserve which borders the site on three sides and gives it much of its green, secluded feel.
“This is an easy business to take over, with well-maintained premises and all management and staff in place. Currently there are 10 employees. The hotel is operated by a qualified manager, assisted by reception staff, a housekeeper, chef and maintenance team. Their expertise and operational knowledge will be invaluable to a new owner coming in to take the hotel into its next chapter,” Kermode said.
The sale of Tagimoucia House Hotel comes as Fiji’s hospitality sector experiences a strong post-pandemic resurgence. The country attracted record February visitor arrivals of nearly 55,000 this year, up 16 percent year-on-year. Rising international visitor numbers have driven occupancy and revenue growth and created the need for an estimated 4000 more hotel rooms in the short to medium-term.
“The time and the place is right for an investment in Fiji’s tourism future. Tagimoucia House Hotel stands ready for its next owner. We invite interested parties to take the first step by getting in touch, and can arrange viewings to suit,” Kermode said.
Business financial and operating information is available to potential buyers subject to signing a confidentiality agreement.
- Supplied by Bayleys
