- Property ID: YLHOTEL24500000
Description
Discover a compelling investment opportunity to renovate and reopen a 4-star hotel located in the heart of Paphos, one of Cyprus’ most popular tourist destinations. With its prime location on the main seafront road in Kato Paphos, the hotel offers easy access to the sandy beach, nearby attractions, and vibrant tourist amenities. The property boasts 272 rooms across four floors, along with a host of facilities including swimming pools, tennis courts, restaurants, meeting rooms, and more.
Location:
- Prime Location: Situated in the heart of Paphos, one of Cyprus’ most popular tourist destinations.
- Central Tourist Area: Located on the main seafront road in Kato Paphos, ensuring high visibility and accessibility for tourists.
- Proximity to Beach: Just 150 meters walking distance to the sandy beach, offering convenience and attractiveness for beach-loving guests.
- Nearby Attractions: Only 1.5 kilometers from Paphos Harbor and Castle, providing easy access to historical sites and cultural landmarks.
- Tourist Amenities: Surrounded by vibrant tourist amenities, including restaurants, shops, and entertainment venues, enhancing the overall guest experience.
Property Features:
Rooms: The hotel features 272 rooms, including 5 suites, 15 family rooms, and 252 standard rooms. The property underwent a full renovation and expansion in 1996, resulting in a total built area of 16,992 square meters.
Facilities: A range of amenities are available, including outdoor and indoor swimming pools, tennis courts, a playroom, souvenir shop, hair salon, gym, spa, restaurants, bars, meeting rooms, and ample car parking spaces.
Investment Proposition:
Renovation and Modernization: The investment will primarily focus on renovating and modernizing the hotel to meet contemporary standards and guest expectations. This includes upgrading room amenities, refurbishing common areas, enhancing recreational facilities, and implementing energy-efficient solutions.
Operational Excellence: Implementing efficient operational practices and cutting-edge technology will optimize guest experience and maximize operational efficiency. This includes adopting smart hotel management systems, enhancing guest services, and implementing sustainable practices to minimize operating costs.
Strategic Marketing and Branding: A comprehensive marketing strategy will be deployed to position the hotel as a premier destination in Paphos. This includes targeted digital marketing campaigns, collaborations with travel agencies, and strategic partnerships to attract both domestic and international tourists.
Revenue Diversification: Exploring additional revenue streams such as hosting events, weddings, and conferences will further enhance revenue potential. Leveraging the hotel’s meeting rooms and event spaces can capitalize on the growing demand for destination weddings and corporate events in Paphos.
Long-Term Growth Potential: Cyprus’ tourism industry is experiencing steady growth, driven by factors such as favorable climate, cultural attractions, and infrastructure development. Investing in this property offers long-term growth potential and attractive returns on investment.
Investment Requirement:
The property is currently not in operation and requires investment to reopen. The asking price for the hotel is 24,500,000.
Details
- Property ID: YLHOTEL24500000
- Price: 24500000
- Offer Type: sale
- Property Type: investments
- Area/Location: Kato Paphos
