Sithonia 3 Star Hotel Sale Investment Advisory
Navigator advised on the sale of a 3*, 80-room hotel in Sithonia, Greece with an asking price of € 6.25 million.
On behalf of a hotel owner in Greece, Navigator Consulting supported the investment analysis and preliminary valuation study for a 3*, 80-room beachfront hotel in Sithonia, Greece. The hotel is built on a land-plot of 18,000 square meters with olive trees and gardens. The total built area comprises 9 buildings with 2,700 square meters.
Asking price: € 6.25 million.
The hotel is operational from May – October with an occupancy rate of 72%. Guests are from Greece, Europe and Russia. There are signed tour operator contracts. The hotel has an additional, unused building coefficient of 1000 square meters, or 40 rooms / 100 beds. The hotel can be upgraded to 4* with additional investment.
Hotel infrastructure includes:
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50 double rooms and 30 studios: 80 rooms in total
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Main swimming pool and children’s swimming pool (350 square meters)
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Restaurant and reception area
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Extensive gardens
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Sandy beach
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Parking
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Tennis court (needs resurfacing)
Key challenges to this hotel investment project include a tour operator-dominated product and the need to reposition and diversify into a more sustainable and competitive tourism product.
The Sithonia Hotel is built along a sandy beach.
Client:
Navigator Consulting Group
Date of Engagement:
January - March 2016
Countries of Operation:
Greece
Business Function:
Investment Advisory Services
Business Sector:
Tourism
The Sithonia Hotel is built in an estate of 18,000 square meters which has been planted with olive and pine trees
The Hotel Pool has an area of 350 square meters and features a separate childrens' pool.
The hotel features pool and sea views
A veranda overlooks the swimming pool and sea.
The Sithonia Hotel has 80 rooms, including 50 doubles and 30 studios.
