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Brand New 500 Rooms, 4 / 5 Stars Hotel For Sale
Location Portugal
Asking Price Range > $35.0M
Gross Revenues $0
Net Profit / Cash Flow $0
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2011
Number of Employees 1 - 3
Inventory $2.0M.
Relocatable Not Disclosed
Number of Employees 1 - 3
Real Estate Owned
Reason for Sale The owner never opened the hotel and wants to retire.
Description The hotel for sale is situated on a 29.000 sqm plot,approx. 200 meters from the sandy beach of Armacao de Pera.The hotel has not been fully completed for operation yet, whilst the general construction has been finished, most parts of the public areas (lobby, restaurants, bars)and the back of the house need to be decorated and furnished (with the exception of the guest rooms which are fully furnished).
Approximately 7000 sq. m of the plot are occupied by a shopping center, still under construction. The building is formed by two blocks with 9 floors each,interlinked at the two naves by a central building with four floors,where the main entrance and public areas are located.
3-Summary of the guest rooms, restaurants/bars and other facilities.
-465 regular guest rooms
-38 suites (mostly two bays)
-14 rooms for handicapped
-1 dining room with ca. 500 sqm
-1 dining room with ca. 350 sqm
-1 lobby bar
-1 pool bar
-1 meeting room with ca 190 sqm
-Underground garage for 140 cars
-2 outdoors pools
-1 tennis court
-Possibility to construct an indoor pool
4-Operation of the hotel
We have identified a potential operator who has gained significant experience
in operating hotels in Portugal.The operator would be willing to take equity in
the project,should the investor wish this. With some basic modifications the property could become a luxury retirement place for Middle and upper class senior people.
5-Selling price and further information
As exclusive agent,we can offer on behalf of the owner,the price of 50 million euros. If you are interested in this project ,just contact me.
For more information, email or call Ambassador (ret) Manuel Barreiros at Mobile - 00 351 937284979.
Click Here To Contact Seller
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