Hotel Four Stars

Listing ID: 700331306

Listing Title: Hotel Four Stars

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Industry: Hotels and Holiday Accommodation

Industry Segment: Hotels

Country: Greece

State / Province:


City: Thessaloniki

Asking Price Range: $5.0M - $10.0M

Gross Revenues: Seller Will Provide

Cash Flow: Seller Will Provide

Cash Flow Type: EBITDA

Year Established: 1969

Number of Employees: 10 - 19

Business Description:
Hotel ''four stars'', in the city of Thessaloniki. Hotel area - 6 383 sq. m. land Area - 1 622 sq.m. 1969 year of construction. Year of repair-2010. 70 rooms. Restaurant with 150 seats. Bar for 60 seats. Hall for celebrations-500 sq.m. Facilities for conferences and business meetings, with a total area of 300 sq. m. Office space-100 sq. m. Two gyms, with a total area of 100 sq. m. Thessaloniki - the second largest city in Greece with a population, together with suburban areas, more than 1 000 people. In Thessaloniki are: Aristotle University-the largest University in the Balkans, Macedonia airport and a major seaport, in its economic importance is second after Piraeus. In 2016, UNESCO included Thessaloniki in the list of the most attractive cities in the world. The hotel is located in the center of one of the districts of Thessaloniki, which is considered one of the most prestigious. The object is located in a good urban location, in terms of accessibility to the main highways, namely to the ring road of the city. Distance to the airport of Macedonia-8.9 kilometers; distance to the bus station KTEL-14.6 kilometers; distance to the train station 14 kilometers; distance to the city center, Aristotle square 8 kilometers; distance to the exhibition HELEXPO 10 kilometers. Distance to the sea-6 kilometers. The cost of the hotel - 4 500 000 euros. There is a project of reconstruction of the hotel. With its implementation, the payback period will be 8 years, the yield-12 %. Part of the costs of acquisition, design, construction/reconstruction and equipment can be compensated from the funds of the European Union and Greece, in the form of grants for business development and VAT refund from the purchased goods. The amount of compensation varies from 35 to 55 %, each project is considered individually by a specialized body. The documents are ready to deal. Additional information is available upon request.

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