Business Summary
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Business for Sale
Modern hotel in Cyprus

Mandate ID: CY-2-AAR-2-2007-1
Transaction Type:
Business for Sale

Industry: Hotel


Sector: Hospitality


Country of Origin: Cyprus |


Target Areas: Worldwide


Business Review

This modern hotel is located in the heart of Limassol, Cyprus just a few minutes away from the Old City of Limassol, its promenade and the Medieval Castle. It is the nearest Hotel to the Limassol Marina, to MY Mall Shopping Centre and Ladies Mile Beach and will greatly benefit from the governmental development works of the coastal stretch land stretching between the old and new Limassol ports!

The hotel is built on 3,005 square metre of land and had a major renovation in 2018. It is developed over 5 floors, consisting of a reception and lobby area, outdoor swimming pool of 7.5 m x 12 m with sunbathing area and terrace and 2 banqueting rooms for events and conferences, being able to accommodate 120 and up to 300 people each. Its restaurant and City Café can accommodate up to 120 people and offer indoor bar, pool snack bar facilities. The 7th floor can become an amazing roof garden with breath-taking views of Limassol, serviced by 3 lifts.

The hotel offers 103 renovated superior and standard rooms. It consists of 11 rooms on the 1st floor and 4 floors of 23 rooms each. The covered area of the hotel is 4,168 square metre plus 724 square metre basement and 550 square metre covered verandas. The total covered area is 5,442 square metre and its parking lot is able to accommodate 50 cars. The prospective purchaser of the hotel will benefit from the 446 square metre plot adjacent to the hotel, which is part of the hotel's sale.

The combination of its ideal location, welcoming Cypriot hospitality and modern design makes it the most affordable value for money accommodation in Limassol city, guaranteeing high occupancy rates for any investor.

Services
hotel services
Financial Information

Revenue 2019: EUR 2,400,000


EBITDA 2019: EUR 800,000


Asking Price: EUR 12,900,000


Revenue Multiple 2019: 5.38


EBITDA Multiple 2019: 16.13


Highlights

- Located in Limassol
- Built on 3,005 square metre of land
- Fully renovated in 2018
- Accommodates for 300 people
- Amazing roof garden
- Great return on investment
- Assets value at approximately 10,000,000 euros

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