We present to you a rare and exclusive but top brand five star hotel for sale in Bodrum, Turkey.
Details are as follows:
• Opening date: May 2006
• 173 rooms: Occupancy rate in summer months is 90-95%;
• Hotel complex consists of 4-storey building with 173 rooms and 36 residences/cottages
• Average room rate is USD 350 (one of the highest in Turkey given its high end customer profile);
• Income from room sales around 50% of the annual turnover. Other sources of income: cabanas / apartments, restaurants, water sports, spa / health club (one of the largest in Europe), shops, etc.;
• The land is leased from the Turkish state until 2047: USD 45.000 per annum (N.B. Turkish hotel owners prefer long term leases over outright ownership, because leasing is cheaper)
• Private bay;
• Before the Turkish crisis, the average revenue was approximately USD 17 million with an EBİTDA margin of 16%; Then the tourist market collapsed;
• 2016 was loss-making (- USD 2 million), 2017 was break-even again, 2018 is expected to show a small profit;
• Customer profile is above-average wealthy visitors from Turkey, Russia and the Middle East;
• 6 restaurants, 3 bars, 4 conference halls, a banquet hall, indoor and outdoor pools, children’s mini club and the largest in Europe SPA-center (5,500 sq. m) operate on the Hotel’s territory
• The Hotel is managed by top 5 star brand until 2025 according to Trust management agreement
• Hotel Plot: Total area of 45,832.96 sq. m
• Leased from the Treasury of Turkey
• Lease term: 10 February 1998 – 10 February 2047
• Location: The Republic of Turkey, Muğla province, Bodrum district
• Now Asking A Low Low Price Of USD 40m only.
This hotel is exclusive to the mandate holder. Owner of the hotel is a foreign Govt entity.
Buyer to submit seller's NDA as well as LOI to connect with seller.
For further enquiries in a discrete manner, you are invited to send us an email under Contact Us at the top right of this blog.
Upon signing a non disclosure agreement, more details shall be provided.
Tourism traffic is doing exceptionally well in the area.
"Tourism professionals in Muğla, one of the most prominent tourist spots in Turkey, anticipate that the region will see a dynamic season in terms of Indian weddings this year."
"In the first seven months of 2019, a total of 24.7 million tourists visited Turkey, an increase of 14 percent from a year ago, according to official figures.
Last year, 39.5 million foreign tourists visited Turkey, up from 32.4 million arrivals in 2017, a much needed revenue for the ailing economy trying to recover from a painful recession.
Major research conducted by World Travel and Tourism Council (WTTC) has revealed that the travel-tourism was the fastest growing sector in Turkey last year at 15 percent, contributing 96 billion dollars to the nation's economy with other related sectors included."
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