Guesthouses and B&B's have carved out a significant and growing niche for holiday travelers to Key West. Each idiosyncratic property provides its guest with the concierge TLC that discriminating travelers have come to enjoy and prefer. Adaptive reuse of Key West historic buildings, often large homes built during the mid 1800's and early 1900's, affords travelers the experience of "down home" luxury combined with Key West "max relax". Owners of Guesthouses also have done well with rising occupancy and room rates rewarding their initiatives.
There are seven Guesthouses for sale in Key West. Each is a turn key property, fully licensed and ready for you to take over. Not all Guesthouses are authorized to prepare and serve their own food and alcohol - that requires specific licenses and therefore greater value. Most guesthouses have arrangements or contracts with local businesses that provide bike rentals, wedding coordination, pet and child care and concierge medical care, etc. All the below guesthouses have web sites, internet booking and all future reservations come with the sale.
Suite Dreams
The Suite Dreams Inn is a boutique hotel and guesthouse that provides 1, 2, 3 and 4 bedroom suites that can comfortably accomodate up to 18 guests. Suites include private entrance, living rooms, well equipped kitchens or kitchenettes, comfortable king and/or queen beds with designer bed linens and flat screen TVs with cable.
Suite Dreams is located in the quiet residential neighborhood known as Casa Marina and is just blocks from public tennis courts, Salute restaurant, Higgs Beach and is a 10 minute walk or 5 minute bike ride to the world famous Duval Street.
Suite Dreams Inn is listed for sale at $2,550,000.
Andrews Inn
The Andrews Inn was formerly a single family home built in the early 1900's. In the early 1980’s Andrew Cleveland purchased the property and hired a team of carpenters who lived on-site and used it as an art studio while they worked on its restoration. Andrews Inn opened its doors as a bed and breakfast in the early 1990’s.
The Andrews Inn has six ensuite bedrooms and is located just a few steps from the Hemingway House and the Key West Lighthouse. Andrews Inn has a commercial kitchen that is licensed for 14 seats, a separate manager's office building, a cabana bath, and a laundry building.
The Andrews Inn is a certified Florida Green Lodge and is listed for sale at $2,750,000.
Caribbean House
The Caribbean House has 10 brightly colored guestrooms. All the rooms are the same size, however, each has it’s own island charm which is reflected in the multicolored decor of the room bringing in the Caribbean atmosphere. They make you feel like you are in the tropics.
There are four off-street parking spaces, a separate office and very nice owner/manager's unit on the 3rd floor. The Caribbean House is located in the heart of Bahama Village in the historic district of Old Town Key West.
The Caribbean House is listed for sale at $2,800,000.
Garden House
The Garden House was built in approximately 1938 as a single family residence. It has been a guesthouse since the early 1970's. It is a two-building, 12 bedroom/12 bathroom guesthouse only to blocks from the downtown district and Duval Street.
There is an in-ground, heated, commercially licensed lagoon style spa-pool surrounded by a beautifully landscaped common area with seating for breakfast and happy hour.
Property is licensed for a 12 seat restaurant and has a separate managers office.
The Garden House is listed for sale at $3,350,000.
Knowles House
Knowles House was originally a single family house contructed in the 1860's, in the Conch tradition by a family originally from the Bahamas. It was home for the Knowles family for 100 years. In 1996, Knowles House was converted into a B&B. All eight bedrooms are ensuite. There is a palm-fringed pool garden with fountain, large Jacuzzi and shaded rear porch. Knowles House is licensed for a 12 seat restaurant.
Knowles House has a heated pool, jacuzzi, a rooftop sundeck set amidst a lush, tropical garden and is barely a 10 minute walk to the Historic Harbor District.
Knowles House is listed for sale at $3,395,000.
Mango Tree Inn
The Mango Tree Inn was built as a Bahamian style mansion in 1858. It has six bedrooms and seven baths with 2,870 square feet of living area on a corner lot on top of Solaris Hill, the highest point in Key West. There are beautiful up and down porches, historic architectural elements such as original leaded glass windows and original staircases and a large heated pool with tropical gardens.
There is spacious owner's quarters with living room, kitchen, two bedrooms and two baths. The Mango Tree Inn is located in the heart of Old Town, a short walk or pedal to the Historic Seaport, Duval Street and neighborhood eateries and shops.
The Mango Tree Inn is listed for sale at $4,650,000.
Heron House Court
Heron House Court was built circa 1900 during Henry Flagler's expansion of the overseas railroad to Key West and is listed on the National Register of Historic Places. The converted residence features 14 comfortable ensuite rooms which includes suites poolside and on the second floor. There is also an owners suite.
The heated pool and deck are surrounded by a tropical garden. Heron Court House is a 15 minute walk to the Historic Harbor District and the Key West Ferry Terminal.
Heron House Court is listed for sale at $7,499,000.
Summary
Smith Travel Research is the source for the below data.
The Average Daily Rate (ADR) in 2015 for Guesthouses and B&B's in Key West was $251. This ADR was an increase of 7.1% over 2014 which had an 11% increase above 2013. The $251 was 55% above the ADR for 2010. Every month for 2015 showed an increase above 2014, with January, July and September each showing 10%+ increases.
The Average Occupancy Rate (AOR) in 2015 for Guesthouses and B&B's in Key West was 82.6% which was 1.2% below 2014 and 6.7% above 2010. The AOR increase in 2015 was seen mostly in increases for the early summer months of April thru July, with July showing the largest increase for the year at 5.7%. As usual, the 1st Qtr of 2015 was the quarter with the highest monthly AOR.
The Average RevPAR (RevPAR) in 2015 for Guesthouses and B&B's in Key West was $207. This was a 5.8% increase over 2014 which was a 12% increase above 2013. The $207 was 64% above the RevPAR for 2010. Like ADR, RevPAR shows a month-over-month and year-over-year increase continuously since 2010. For 2015; February, July and September each showed double digit increases over 2014 with July 2015 leading with a 16.8% increase above July 2014.
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