The Santorini NM Hotel is for sale for EUR 15,000,000. Built in 1992 and renovated in 2007, the NM Resort is a 90-room, 5* delux property in Santorini near the black sand beach of Perivolos, one of the most popular swimming beaches on the Greek island.
Built in 1992 and renovated in 2007, the NM Resort is a 90-room, 5* delux property in Santorini near the black sand beach of Perivolos, one of the most popular swimming beaches on the Greek island.
This property includes 9 different hotel buildings around a central plaza and 2 swimming pools. The rooms comprise 16 suites, 74 rooms, and excellent amenities including a conference centre seating 150 people, a chapel for on-site weddings, a fitness centre, tennis court and other amenities.
There are an additional 20 hotel rooms currently being used for staff housing. The NM Hotel has a spa license.
Hotel Financial Status
Profitability: 2012 sales of EUR 1.1 mln
EBITDA: EUR 657,000 or 59%
The Santorini hotel is owned and managed by a family which has reached the age where they want to exit the business.
Hotel Sales Price:
Asking sales price: EUR 10,000,000 as a going concern
Debt on the books: EUR 5.000.000
Total: EUR 15,000,000 (including the assumption of existing debt)
Current Hotel Management and Marketing
The NM hotel needs a marketing makover:
It does not have a good selection on online sales channels (e.g. it uses Expedia, which charges a 30% commission, but not Booking.com, which charges 15% and is dominant in Europe).
It does not use customer relationship management (CRM) and yield management to achieve repeat visits, direct sales or sales via customer referrals.
The hotel depends on room income: marketing of weddings, events, and other income categories is under-developed.