Guest house Garoza is located 100m from the sea (the Gulf of Riga) and 70km from Riga. It has 11 rooms with bathrooms for 23 people with possibility to create extra 20 bed spaces. There is possibility to organise celebrations for up to 70 guests. Guest house was refurbished during last winter and is open for guests. Due to the plan to become more sustainable and leave the least possible carbon footprint the Guest house will put a solar panels on the roof.
We evaluate the Company with a grade A – company have stable financials, growing turnover and decreasing operational expenses. Company has enthusiastic and determined owners, who co-finance Guest house refurbishment. We believe that the Company would be able to repay principal and interest according to the schedule also in the future
· The Company established in 05.12.2008,
· Owners of the Company have more than 20 years of experience in real estate and hospitality,
· In 2020 came new investor and the Guest house was fully redesigned and refurbished. Now it can accommodate more guests and is more stylish.
· In 2021 the ownersbuilt a sauna house,
· Price for a room range from EUR 130 to EUR 270 for a double room,
· Guest house Garoza is only place in a neighbourhood that offer rooms for accommodation,
· There are available rooms with double bed, luxury room, rooms with a view to the garden and sea, room with a terrace, family room and double room. It has a tiny house available for accommodation as well
· Guest house Garoza is located 5km from highway "Via Baltica" (route E67), and 100m from sea.
- Possibility to create celebrations for up to 50 people
- Cosy atmosphere and friendly service, unique design
- Outdoor kitchen, campfire place, hot tub, children playground
- Variety of rooms to choose
- Beautiful coast of the sea and surrounding environment
- Organising events to attract guests to the Guest house
|Until 2019 the Company demonstrated a stable turnover and was EUR 240th on average, the Gross margin was 35% and Net margin 18%. In 2021 the turnover continued to decline due to Covid-19 and closure of the Guest house during renovation. However, based on operational data provided, the turnover during 9M 2022 has exceeded the turnover of 9M 2019 and most probably will exceed EUR 250th in 2022|
Travel and tourism industry direct contribution to the world economy is around 10%. Until tourism industry was hit by Covid-19 crisis, it grew for more than 10 years.In Latvia tourism industry does not have less contribution to economy compared to other countries, for example, Spain, Italy, France or UK. However, since 2009 when travel and tourism industry experienced dip due to Financial crisis, tourism in Latvia has been growing more than in World on average.
|The guest housing business depend on domestic and international travel that last more than 1 day. In 2020 tourism industry took a hit due to restrictions with an aim to limit Covid-19 spread. However, despite restrictions the number of Latvian guests in hotels and guest houses did not drop dramatically and in 2021 started to recover. In 2022 the tourism has almost recovered.|