Appraisal, Feasibility Studies & Development Services
- Technical maturity, masterplan, and feasibility study for an integrated resort to be developed on a site of 60 hectares in Corfu, Greece, including three 5-star hotels, 200 residences and associated leisure facilities.
- Validation of development masterplan and valuation of a proposed integrated tourist resort in eastern Crete, Greece.
- Highest and best use analysis and assessment of development scenario for an existing 78-room 4-star resort hotel in Corfu, Greece.
- Feasibility study for a mixed-use project near Larnaca, Cyprus, including a 450-room hotel, 344 apartments, 226 villas, a retail park and a large marina.
- Feasibility study for the development of a 300 room 5-star hotel with marina on a private island in the Ionian Sea, Greece.
- Feasibility study for the development of two 4-star hotels with a total of 250 rooms and 44 villas on beach front plots in Paphos, Cyprus.
- Feasibility study for the upgrading of an existing 38 room apart-hotel and the development of a new 120 room 5-star hotel and associated commercial uses in Paphos, Cyprus.
- Valuation for investment purposes of a 138-room 4-star hotel in Larnaca, Cyprus.
- Investment appraisals of 26 individual hotels in Italy, in locations such as Tuscany, Lombardy, Sicily, Sardinia, Liguria, Veneto and Rome, ranging from 15-room pensions to 450-room resort hotels.
Due Diligence & Underwriting
On behalf of global investment management firms we have undertaken the following:
- Assessment of Greek hotel asset collaterals during the non-binding and binding rounds of the sale of a non-performing loan (NPL) portfolio, with a nominal value of 800 million euros.
- Market and competition analysis, high level technical assessment and capex. estimation, marketing and sales plans, financial analysis and investment appraisal of 18 Greek hotel asset collaterals during the non-binding and binding rounds of the sale of a non-performing loan (NPL) portfolio, with a nominal value of 1.6 billion euros. After the successful acquisition of the portfolio by our client, we proceeded to provide on-going asset management and work-out services of the hotel assets.
- Desk-top appraisal of 16 Greek hotel asset collaterals during the non-binding and binding rounds of the sale of a non-performing loan (NPL) portfolio, with a nominal value of 1.5 billion euros.
- Review, due diligence and investment appraisal of a portfolio of distressed assets to be sold by a public entity in Slovenia, including 6 hotels with a total of 770 rooms, a spa & wellness center, a medical center and a conference center.
Operational Due Diligence - Independent Business Reviews (IBRs)
On behalf of all systemic Greek banks and the major financial institutions with a presence in Greece, we have reviewed the operations of numerous hotels, including:
- A portfolio of 3, 4 and 5-star resort hotels with a total of over 1,400 rooms on the island of Kos, Greece.
- A resort hotel with 120 rooms in Patras, Greece.
- A 212 room 4-star and a 150 room 3-star resort hotel in Ag. Nikolaos, Crete, Greece.
- A 114 room 5-star resort hotel in Rhodes, Greece.
- A cluster of 5 resort hotels ranging from 3-5 stars in Kos, Greece.
- A cluster of 6 resort hotels ranging from 3-5 stars in Halkidiki, Greece
- A 5-star resort hotel with 165 rooms in Loutraki, Greece.
- A luxury all-inclusive spa resort with 300 rooms in Halkidi, Greece.
- A branded 4-star airport hotel with 207 rooms in Milan, Italy.
- Over 25 hotels in Italy, ranging from small boutique hotels in prime city locations to large resort hotels.
Brokerage & Transaction Advisory
Our team has assisted in the disposal of a number of assets to hotel investors:
- A branded 4-star airport hotel with 207 rooms in Milan, Italy (after interim management).
- A 74 room 5-star hotel in Thessaloniki, Greece (after interim management).
- Three ski resort hotels in Bulgaria, with a total of 105 rooms (after interim management).
- On-going transaction advisory in cooperation with real estate brokers for the sale of a number of hotel asset collaterals in an NPL loan portfolio.
Asset Management & Interim Management
On behalf of Greek banks and major investment management firms we have accomplished:
- Hand-over, branding, and interim management of a 74 room 5-star hotel in Thessaloniki, Greece.
- International branding, development, and turn-around management under art.106 including the restructuring agreement of a resort comprising a 5-star and 4-star hotel with a total of 303 rooms in Peloponnese, Greece.
- De-flagging and asset management of a 300-room 5-star landmark city hotel in Nicosia, Cyprus.
- Best use analysis, handover (inventory control and operational due diligence), asset management and turn-around management under insolvency proceedings of three 3 &4 star city hotels in Bucharest, Romania.
- Best use analysis, handover (inventory control and operational due diligence), asset management and turn-around management of three ski resort hotels in Bulgaria, with a total of 105 rooms. After 12 months under our management, all of these hotels were successfully sold.
- Interim management of a branded 4-star airport hotel with 207 rooms in Milan, Italy.