Our client is selling a 4*, 140-room hotel in Glyfada, Athens. The asking price for the hotel is € 15.5 mln.
Athens, Greece: 29 April 2021
The hotel is located on a central avenue in Glyfada, approximately 15 km from the centre of Athens, Greece.
The hotel is licensed and operating in good standing. It has a good mix of rooms, including classic and premium rooms, and suites. Common areas and amenities include:
A restaurant;
A bar;
An outdoor pool.
The hotel is equipped to accommodate conferences and seminars, and has several conference and seminar halls. This is a key strength of the property, given the size and lay-out of the conference rooms.
This hotel has excellent turn-around potential given:
1. Its location. The hotel is near both Glyfada as well as the re-developing former airport of Athens (Hellenikon). Prices in the area will rise steadily over the next 5 years.
2. The hotel is located relatively close to the beach in an area without many beachfront hotels. It is literally two blocks to the beach, but one must pass Posidonos Avenue. Cross-walks are available.
3. The hotel has good conference and event facilities which can be used as the basis for a turn-around.
The hotel is rated a strong buying opportunity in the 4* category but it does need renovation to merit this classification.
This is an off-market transaction. We ask that any interested buyers are
Direct contacts; and
Have a proof of funds, or a professional identity commensurate with the project.
Please note that we cannot support brokers except in exceptional circumstances where there is a clear buyer and professional reputation in view.
NavInvest Greece is the investment advisory service provided by Navigator Consulting Group in Greece. We provide Due Diligence, Business Planning, Risk Analysis, Tax Planning, Asset Valuation, Corporate Restructuring, Mergers & Acquisitions, Investment Finance, Investment Brokerage services in Greece.
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