Summer is coming around... 

The tourism industry represents a direct turnover of at least 780 million euros, over 4,000 permanent jobs, about 600 seasonal ones, and over 22% of the local economy. The Dordogne is a tremendously popular destination for French tourists (1st tourist destination in France outside coastal areas).

With an array of popular tourist attractions, among which some 67 museums, 23 parks and gardens, 42 castles, 22 registered equestrian centres, 7 golf courses - not to mention its delightful environment and renowned gastronomy - it is hardly surprising that the Dordogne welcomes an average of 2.6 million tourists every year who stay an average of 10 days each.

In support of this very dynamic industry, Périgord Développement has set up a specific mission the aim of which being to identify prospective investors interested in taking over local hotels, bars, restaurants and camping sites. In order to optimise the action, a close partnership has been fostered with the Hotel and Outdoor Accommodation Trade Associations through the Dordogne Chamber of Commerce and Industry.

As a result of this partnership, some 15 camping sites and about 100 hotels, bars and restaurants have been identified as looking for investors. As an indication of selling prices, bars range from 45 to 60,000€, restaurants from 80,000€, and hotels and camping sites from 2,5 million euros to… a lot more!

It is worth bearing in mind some additional costs to be met such as legal fees which represent 8-12% of the selling price, transfer fees included, and a personal capital contribution (about 30% of the selling price) the amount of which can vary depending on what it is you are actually buying into: property, going concern, capital shares etc.

It is also wise to consider previous experience in the trade you are planning to invest into: one of the key success factors is indeed the ability to ensure both continuity and quality of service. What is a restaurant owner to do if his cook suddenly becomes unable to work and nobody else knows how to cook…? 

If you would like to know more about opportunities in this area, are unsure or are seeking advice or guidance regarding your project in the Dordogne, please do contact us. Périgord Développement is specialised in giving entrepreneurs personalised support from initial project to implementation.