Resort For Sale
www.GlobalBX.com
Listing ID:
700122894
Listing Title:
Resort For Sale
Quick Link:
http://www.globalbx.com/listing.asp?bId=122894
Industry:
Real Estate
Industry Segment:
Other Real Estate
Country:
Egypt
State / Province:
Area
City:
Hurgada
Asking Price Range:
> $35.0M
Gross Revenues:
Seller Will Provide
Cash Flow:
Seller Will Provide
Cash Flow Type:
Sellers Discretionary Cash
Year Established:
2002
Number of Employees:
100 - 200
Business Description:
The resort is located in a district called Saqqala, overlooking the Red sea with a beach front of about 900 meters, it occupies a land of about 59,000 square meters, composed of 785 rooms and suites, restaurants, 2 swimming pools, business center, billiard court, tennis court, fitness center, diving center and a play ground for children.
It was rated as the best resort in the red sea area for the second year in a row.
The resort is in operation since five years and has the advantage of 5 more years of tax free operation. It is being managed since the start by an Egyptian
Management Company which secures running the hotel for the whole year with about 65 – 70 % occupancy.
The resort start was 575 rooms and suite then the owner decided with the management company to increase the number of rooms and this was due to the success in business.
The requested selling price is 130 million US$ negotiable. Please let me know if you would like to meet the owner or do a site inspection.
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