SOLD - Steamboat Lake Resort

Steamboat Springs, nestled in Colorado's beautiful Yampa Valley, is a truly remarkable community to live in. The town, with an elevation of 6,695 feet above sea level, received its name in the mid-1800's when fur trappers ventured over the Continental Divide and heard the gushing sound of mineral springs, reminding them of the sound of steamboats. Once a gold mining, coal mining and ranching community, winter and summer tourism is now the mainstay of Steamboat's thriving economy. Though called Ski Town USA and known for its world-class skiing facilities, Steamboat Springs was originally a summer resort. Visitors would come in the summer months to take advantage of the many natural hot springs and vast hunting and fishing opportunities. Today, summer activities span the spectrum with two championship golf courses, indoor/outdoor tennis center, endless biking, kayaking, hiking, snowmobiling, horseback riding, flyfishing, whitewater rafting, tubing and so much more available right from town.

With a current population just over 10,000 residents, Steamboat Springs doubled its population over the past two decades but still retains its small-town values and ambiance. The town lies against the western ridge of the Continental Divide and is nearly surrounded by National Forest and Wilderness area. The Yampa River, which begins in the Flat Tops Wilderness, flows through downtown Steamboat Springs and eventually meets the Green River in Dinosaur National Monument. Two ski areas, four state parks, hot springs, lakes, rivers and endless trail systems cater to a plethora of outdoors activities.

Steamboat Springs has an excellent public school system and several private schools with reasonably sized classes. The local community college offers opportunities for continuing education and two-year Associate of Arts degrees. There are two elementary schools (K-5), one middle school (6-8), one charter school (K-5) and one high school (9-12). All offer the latest in educational materials and technology to serve the best interests and development of local youth.

Climate:
Steamboat Springs' summers are mild, cool and dry with low humidity. July is the hottest month with an average high of 82 degrees and low of 41 degrees. On average, Steamboat Springs Ski Area receives 310 inches of snowfall annually and downtown Steamboat Springs receives 173 inches of snow annually.

Improvements Description:
The Steamboat Lake Resorts buildings consist of an integrated complex of many Western style, top quality facilities that have been consistently well maintained and improved. The main lodge contains a restaurant seating 75 people with a commercial kitchen that was expanded and remodeled in 2009. A convenience store was added to main lodge in 2000. Upstairs in the main lodge building is an owner's or manager's two bedroom, 1,200 square feet apartment that was remodeled in 2005.

The property offers several options for guest accommodations. There are four single bedroom cabins with kitchens that contain 384 square feet each as well as four larger two bedroom cabins with kitchens that are each 870 square feet. In addition there are two 1,826 square feet Bunk Houses with a total of twelve motel type rooms.
For the horse rental program, there is a nice, functional barn built in 1996 with additional improvements added in 1997, with associated corrals, that holds the saddles and tack and serves as the operational center for the approximately twenty-five head horseback riding business.

Additional improvements include the beautiful, aesthetic pond created in 2001 plus, on the more functional side of the domestic water program, a brand new underground septic system that was added in 2009.

Business Opportunity:
With invested, hands-on operators, annual revenue can be expected to grow from approximately $1,500,000 to over $2,000,000 that, with a total cost of goods sold of approximately $500,000 and expenses of $750,000 per annum would yield a profit of $250,000 (15%) to over $500,000 (35%) before any reinvested capital.

Wildlife and Recreation:
For the avid sportsman, the resort and surrounding forest/wilderness has elk, mule deer, bear, and bobcat along with a variety of raptors, waterfowl and other bird species. The property offers year-round outdoor entertainment and recreation from hiking, kayaking and horseback riding in the summer to snowmobiling, snow-shoeing, cross-country and downhill skiing in the winter. Steamboat Springs is less than 30 minutes from the resort offering 3,000 skiable acres of terrain, intense tree skiing, wide open meadows, long bump runs and groomed cruisers. The glade area of Sunshine and Storm Peaks are Steamboat's particular claim to fame with champagne powder skiing at its best.