Hotel In The Suburbs

Listing ID: 700331307

Listing Title: Hotel In The Suburbs

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Industry: Hotels and Holiday Accommodation

Industry Segment: Hotels

Country: Greece

State / Province:


City: Thessaloniki

Asking Price Range: $1.0M - $2.5M

Gross Revenues: Seller Will Provide

Cash Flow: Seller Will Provide

Cash Flow Type: EBITDA

Year Established: 1974

Number of Employees: 10 - 19

Business Description:
Hotel in the suburbs of Thessaloniki. The hotel has an area of 2 200 sq. m. land area of 8 100 sq.m. built in 1974. The construction of the building and its technical condition requires work on its reconstruction. To improve the quality of service, you must perform the following works: repair of the building, partial replacement of furniture, the device superior rooms; partial or complete replacement\ repair of engineering equipment; purchase of software; construction of the pool; landscaping. Thessaloniki is the second largest city in Greece with a population, together with suburban areas, of more than 1,000,000 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 100 metres from the sea and 4 km from the nearest town. The cost of the hotel is 1 000 000 Euro. There is a project of reconstruction of the hotel. With its implementation, the payback period will be 8.8 years, the rate of return on investment - 13 %. 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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