Eight guest rooms, all with private baths. Some rooms also include private balconies, porches, clawfoot tubs, or gas fireplaces.
Several of our rooms and common areas are being updated and redecorated to give the rooms a more modern feel while still maintaining the historic Victorian charm of the B&B. Guests are giving us feedback and really appreciating the fresh look. We are also currently renovating the exterior of the buildings.
Property consists of two parcels totaling 0.55 acres. There is a total of 5,100 square feet of living space in three structures: the main house (3,700 square feet, built in 1884) and two carriage houses (each about 700 square feet, built in the 1930s). The main house is a Tyler Historic Landmark. There is also an additional 1,400 square feet of storage space (which could be converted to guest rooms with some investment)
Strong weekend traffic from Dallas-Fort Worth area, as well as Austin, Houston, Shreveport, and local stays.
Solid weekday business-traveler base; in 2010 almost 50% of our room nights came from mid-week traffic. A full third of our reservations come from repeat guests and direct referrals.
2010 was a banner year, with a 2010 annual revenue of $105,000. 2011 revenues were down slightly to $95,000, as we gave up one carriage house for our on-site inkeeper.
Strong web presence, including #1 ranking on Google, overall Outstanding rating on Bedandbreakfast.com, overall Excellent rating on TripAdvisor, as well as listings on BBonline.com, Expedia.com, Hotels.com, and Kayak.com
Historical web stats available from July 2008 to present (we believe in tracking things so you know what works and what doesn't), and a reservation database dating from 1998
Client contact database for direct e-mail marketing. We also have just created a Facebook page to take advantage of social media.
Separate owner's quarters. Actually, there are three different choices. You could choose to live in either the Rockway Carriage House or the Mockingbird Cottage. The Mockingbird Cottage allows the option of a large private yard, separate from the public spaces (which is great for dogs or kids). You also could live in the main house, where there is a suite of rooms (Room #2 and an adjoining office), if you would like to preserve the revenue from the carriage houses.
Partial owner financing considered.
We have the second highest revenue out of all East Texas B&Bs (that's not a guess, that's based on State of Texas hotel receipts).
We have a strong weekend client base: Dallas is our #1 source of guests, being less than 90 minutes away, but followed closely by local stays and traffic from Houston, Austin, and San Antonio. And unlike many other B&Bs, we also have a strong weekday business-traveler base.
We've spent much of our time investing in the business, such as updating the rooms and installing new high-efficiency AC units. But we also have focused on improving the web site and web presence--which is the #1 source of our reservations.
Tyler is known as the medical hub of East Texas, with four world-class hospitals. In addition, there is a booming law practice here, as Tyler has become a popular venue for international patent cases. The Harvey Convention Center is about a mile away from us, and we have a very active Convention and Visitors Bureau working to bring conventions into town. Add in the draw of people from the surrounding area to Tyler's restaurants and shopping, and Tyler is a busy place.
Fortunately, Tyler has also kept its historic charm. We're located within a few blocks of three historic districts (Brick Streets, Azalea, and Charnwood), and just a few blocks from the historic downtown square. The Heart of Tyler organization is making great strides in revitalizing the downtown area, including new galleries and restaurants.
We are interested in talking to people who are looking for a turnkey B&B. Please call or e-mail us directly if you'd like to discuss purchasing the Woldert-Spence Manor.
Chris & Lisa Garrett
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