Our client is selling a 175-room 3* resort in Evia, Greece. It is located approximately 1 hour by car from Athens International Airport. 

 

The hotel is located on 28,000 sq.m. of land, including 100 linear meters of beach. It includes 1 main building and 6 residences.  

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Amenities include a swimming pool, 2 tennis courts, 12-hole mini-golf, 1 basketball court, beach volleyball and a large car park. 

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The Evia hotel also has a spa, an indoor- and outdoor  restaurants, one indoor and 2 outdoor bars, and 3 conference rooms. An outdoor covered theatre provides a venue for animation. 

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Built-up areas include:

• main building and small auxiliary buildings : 5,884 m2

• 6 residences and bungalows: 2,156 m2

• veranda and patios: 1.711 m2

• covered theater area : 169 m2

• main pool 230 m2

• kids pool 16 m2

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We see this as an excellent hotel turn-around case. With additional investment, the hotel can be upgraded to 4* standard, and the un-used building coefficient of 5,000 sq.m. can be used to add villa-style accommodation. This would lead to a minimum 10-year unleveraged IRR of 7% under conservative forecasts. 

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Please Contact Us for further information on hotel sales in Greece. 

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