Hotel, On The First Line From The Sea

Listing ID: 700331309

Listing Title: Hotel, On The First Line From The Sea

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Industry: Hotels and Holiday Accommodation

Industry Segment: Hotels

Country: Greece

State / Province:


City: Thessaloniki

Asking Price Range: $2.5M - $5.0M

Gross Revenues: Seller Will Provide

Cash Flow: Seller Will Provide

Cash Flow Type: EBITDA

Year Established: 1912

Number of Employees: 4 - 5

Business Description:
Hotel, on the first line from the sea, in the city of Thessaloniki. The area of the hotel - 1 130 sq. m. land Area - 247 sq. m. Year built - 1912. This project provides for the acquisition of real estate, existing business, hotels. 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 and 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 located 20 meters from the sea and 18 kilometers from the airport. The cost of the hotel - 2 600 000 euros. There is a project of reconstruction of the hotel. With its implementation, the payback period will be 10 years, the rate of return on investment - 11 %. 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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