Hotel Investment Opportunity in Thasos, Greece

Hospitality services with bed and breakfast, restaurant, bar and medical tourism services. Hotel property, building and complete interiors. An important asset beyond the site where the hotel is built there is another land that we inherited nearby (100 meters away from the hotel). It is approximately 900 square meters with a relevant building factor of 0.8 indicating the percentage to build legally another property of approx. 760 square meters. It is in a prestigious location since it is at the heart of Limenas, the capital of the island, behind the street surrounded by trees and other lands that creates a unique atmosphere of quietness and privacy with a fantastic view of the mountain. This place now is used as additional parking for the hotel, but it could be used to develop a series of suites or retreats with a sparkling pool and private spa at the center as an extension of the boutique hotel. The hotel has three levels, the first 120 square meters has a kitchen area, rooms for the personal breakfast area for the winter and two warehouses. This level has access to the backyard. The second level 180 square meters the main entrance has the reception, central lounge and six rooms, three from each side. Third level is 180 square meters smaller lounge and seven rooms. Above this level there is a wooden loft of 160 square meters that is ready to provide additional luxury suites since the view from up there is amazing due to its strategic position from the roof windows at the east side there is a breath-taking view of the magnificent Aegean blue waters and the romantic old Harbour that is a point of reference in the city of Limenas, while from the west side the unique view of the beautiful mountain. This property is owned and we also have another property close by for expansion. With the current conditions without any further improvements or additions, the hotel's gross profits just from the bookings are between 70 to 100% per summer season. However, only with minor advancements in the rooms and the quality of the provision of services, it is evident that this amount could be doubled. For example, by increasing the completeness since now we have around 60% (June – September) and the price for a double room from EUR 40–60. While with the necessary improvements in the room, management and quality of services completeness can easily reach 80% to 90% and the room prices can increase up to EUR 80 per night.
Business has a single owner. Business had a loan and this has been already settled.