Newly Established Hotel Seeking Loan in Cannes, France

- The project involves converting an existing apartment rental business into a 4-star hotel by adding two additional floors, increasing the property from three to five floors.
- Situated in Cannes, a highly sought-after tourist destination, attracting approximately 3 million visitors annually, providing a strong customer base for hotel operations.
- The hotel is designed to feature 38-40 rooms, with 8 rooms per floor, each equipped with kitchenettes.
- Planned facilities include an indoor and outdoor restaurant, a gym, a kids’ room, an arcade room in the basement, two co-working business lounges, a conference room, a bar, and a laundry room.
- The hotel can either be operated with an EBITDA margin of over 10%, or sell at EUR 275,000 to 350,000 per key with 37-40 keys total or full sale at EUR 12 million.
- The project forecasts a 70% occupancy rate and an impressive ROI of 34% is projected over a 24-month operational period.
- Construction permits are yet to be obtained.