At a Glance: Unique opportunity to buy this beachfront hotel in Greece, max.485 beds, with a lot of hotel facilities, 50 min. by car from airport
Region: East Sterea
Prefecture / Location:
Sale type: Sale of operating hotel
Property type: Hotel for sale with star rating
Current Status:
Alteration of use: It is permitted to alter the hotel's use
Suggested Usage: Wedding Hotel / Hotel use / Sport Hotel
Built in / year: 1980
Last Renovation / year: 2008
Accommodation
Type of Accommodation: Beachfront Hotel for sale / On the beach
Hotel Facilities: 2 Tennis courts, 1 Basketball court, Mini golf, Football field, Volleyball court, archery court, Indoor main restaurant For 400 people, Tavern by the beach, Pool bar, Beach bar, Main bar, Spacious lobby, Conference room of 160 m2, Outdoor Theatre for 250 people, 2 Swimming pools (one for children of 16 m2 and one for adults of 230 m2), Gym, Sauna, Massages, Facial and body treatment, water sports (Canoe, Surfing, Water ski, Banana, Jet ski, fishing)
Room Facilities:
No. of elevators: 2 elevators
Max No. of Levels (floors): 4 levels
No. of buildings: 6 Buildings
Hotel view: Sea and Mountain View
Between the hotel and the beach: There are not any properties
Beach landscape: Sandy and Pebbly
Number of Beds: min 350 - max 485
Total builded area in m2 : 10 165
Land size in m2 : 28 016
Land characterization : In urban planning
Remarks :
Development potential
Further permitted building area (m2): 5 319
Subprojects / Remarks: Available
Available land attached (m2): 9 941
Distance from
The beach: Beachfront
Airport: from 45 minutes to 1 hour by car
Heliport:
Seaplane Terminal:
Harbour: 2 km
City / Village: 2 km
Medical Center: 22 km
Marketing Data
The hotel operates: 7 months
Agreement with Tour operators: from Greece, Russia, France, Bulgaria, Romania
Wider area development: Tourism has developed in the area where you can find luxurious hotels and private villas. The main characteristic of this prefecture is its many archaeological sites.
Tax data
Type of Transaction: Company sale or Property sale
Tax / Remarks: In most areas in Greece the system of so-called 'objective values' is applicable. The objective value of the asset in question is calculated by the tax office pursuant to a standard method set by the state. The objective values are a system of unified values which are calculated based on objective criteria such as the location and construction of the specific real estate assets. The objective value of the present hotel is 4,759,250 Euros.
Financial Data
Selling price € : 6 900 000 (Updated: May 7, 2016)
For the investor
Revenues / € : 1 660 186
Operating Expenses / € : 1 167 946
No. of employees : 54 employees X 105 days + 9 employees X 12 months
Profit before Depreciations & Taxes / € : 492 240
Average yield / % : 7.13
Payback period / years : 14
Average Occupancy / % : from 50% to 60%
Government Financial Support: There is a free Financial Support on the investment
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