At a Glance:
Region: East Peloponnese
Prefecture / Location:
Sale type: Sale of non operating hotel
Property type: Hotel for sale with star rating
Alteration of use: The alteration of the hotel's use is not permitted
Suggested Usage: Hotel use / Resort / Spa Hotel
Built in / year: 2001
Last Renovation / year: 2011
Type of Accommodation: Seafront / On the beach
Hotel Facilities: 2 swimming pools, 1 conference room for 300 people, 1 restaurant for 1000 people, Beach bar, pool bar, baby bar, 2 Tennis Courts, 1 football field, 1 Volleyball court, basketball court, Beach volleyball, 2 Open air theaters, bar, cafeteria, taverna, skate court, Playground, Disco etc. Many other facilities and amenities are offered by the hotel.
No. of elevators: 2 elevators
Max No. of Levels (floors): 2 levels
No. of buildings: 10 Buildings
Hotel view: Sea View
Between the hotel and the beach: There are not any properties
Beach landscape: Sandy and Pebbly
Number of Beds: 500
Total builded area in m2 : 9 000 m2 (10 buildings)
Land size in m2 : 50 000
Land characterization : Outside urban planning
Remarks : The hotel complex has 250 meters front on the beach. The land area of the hotel is divided into 2 sections. The first section, which is the main hotel and the second part adjoining the sea, which is the rest of the hotel. There is a road between the two sections. The two sections are joined together by an underground passageway.
Further permitted building area (m2):
Subprojects / Remarks:
Available land attached (m2): Available
The beach: Beachfront
Airport: 2hrs 30min
Harbour: 13 km
City / Village: 19 km
Medical Center: 19 km
The hotel operates: 7 months
Agreement with Tour operators: from Germany and a lot of other countries
Wider area development: The location of the hotel is one of the most popular and tourist destinations in the Peloponnese. Many historical sites can be visited in the area.
More Amenities and Services of the wider area are: Archaeological sites, Several hotels (more than 224 hotels), Amazing beaches awarded with blue flags, Natural beauty, Well-known restaurants, Cosmopolitan clubs, Supermarkets, Tavernas, Cafeterias, Marinas, Medical centre, Water sports and activities such as Yachting, Kite surfing, Jet Skiing, Fishing, Windsurfing, Water Skiing, Scuba diving, Football fields, and many other 5 * facilities.
A lot of celebrities have bought villas in Greece, some of them are: Prince of the Netherlands Willem-Alexander, Qatari Emir Sheikh Hamad bin Khalifa Al-Thani, Dmitry Rybolovlev, Bruce Willis, Paloma Picasso, Sean Connery, Lady Gaga, Rory McGrath, Tiger Woods, Ian Hislop, Wiz Khalifa, Avram Grant, Jennifer Aniston, Lisa Maxwell, Cristiano Ronaldo, Irina Shayk, Giorgio Armani, Veronica Maccarone, Kirsten Dunst, Donatella Versace, Viggo Mortensen, Madonna, Michael Douglas, Katherine Zeta Jones, Nicolas Cage, Tom Hanks, Bruce Spristing, Angelina Jolie, Bill Gates, Janis Joplin, Cat Stevens and many others
The wider area is home to many Greek and foreign celebrities.
The location is popular with: Russian, German, English, French, Italian etc. visitors.
Type of Transaction: Company sale or Property sale
Tax / Remarks:
Selling price € : 10 000 000 (Updated: July, 2017) - (The selling price of the hotel some years ago was 31,000,000 Euros. The selling price of the hotel according to the evaluation and the objective values of the Ministry of Finance of Greece is 24 650 000 Euros. The current asking price by the owning company is 10 000 000 Euros.)
For the investor
Revenues / € : 1 800 000
Operating Expenses / € : 700 000
No. of employees : 28 employees X 4 months and 4 employees X 14 months
Profit before Depreciations & Taxes / € : 1 100 000
Average yield / % : 11%
Payback period / years : 9.09
Average Occupancy / % : from 75% to 80%
Government Financial Support: State Grant up to 50% on the investment