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Hotel in Samos  /North Aegean Islands  (Code: 121540417)

Have you ever dreamed of owning an Hotel by the sea? This is your chance!

 

On own property of 5.500 square meters, the Hotel-Restaurant complex has been gradually built up since 1990. It has 55 self-catered studios and apartments and another 60-80 can be added on the currently unused land of the property. The Hotel also offers a pool with a pool bar and a BBQ area. 3 different catering businesses complement the Hotel, but also attract customers as independent businesses: a) a Taverna, indoors for the winter months and literally at the crest of the wave during the summer months, b) a fine dining-restaurant and c) a casual dining/cafe restaurant. 

 

The business is open all year-round and the winter months provide 30% of total revenue. Revenue has grown from € 430 thousand on the 2014 season (May 2014 – April 2015) to an estimated € 700 thousand for the 2016 season (May 2016 – April 2017), an impressive 63% increase over two years. The growth is even more impressive if we take in to account the crisis in Greece, the refugee situation and the military coup in Turkey during the peak of the 2016 summer season.

 

The rising trend in Revenue is expected to continue this season as well. Early bookings are up 20% and traffic from Turkey is expected to recover significantly. Samos will be served by various new air and sea routes this summer and traffic is expected to continue to grow as the island becomes more and more popular as a tourist destination.

 

With the potential addition of another 60-80 apartments-studios, the Hotel can acquire the critical size for it to become an all-inclusive resort. The demand is already there and rapidly increasing. However, current owners are approaching retirement and will not be able to realize this new expansion of their business.

TRANSACTION TYPE

Asset Sale

 

 

REASON FOR SALE

Retirement

 

 

REVENUE 2016 (Estimated)

(01 May 2016 – 30 April 2017)

€ 650.000

 

 

LAND VALUE

€ 2.000.000 included in asking price

 

 

Financial data:  
Sales:
800.000 €
Profit:
240.000 €
Asking Price:
3.500.000 €
Down Payment :
Negotiable
 
For more information please contact us.

The financial figures presented in this section have been derived from the seller’s financial statements and/or form the seller’s tax returns and/or from seller’s representations. Recast profits (before interest, taxation depreciation and amortization) and sales have been normalized to reflect a typical fiscal year for the business.

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