Kyrenia Hotel For Sale
For Sale
200,000,000 €
description
Exclusive Investment Opportunity: 5-Star Hotel & Casino in Kyrenia, Eastern Mediterranean
We are pleased to present a rare opportunity to acquire a premier 5-star hospitality and gaming asset in Kyrenia, one of the most vibrant and rapidly growing luxury tourism markets in the Eastern Mediterranean. This property combines upscale accommodations with a high-margin casino operation, offering a diversified and robust revenue stream.
Asset Overview
The property is an iconic 5-star hotel and casino that has undergone a full-scale renovation, ensuring it remains at the forefront of luxury standards in the region.
- Accommodations: 117 upscale guest units, including 100 premium rooms and 17 luxury suites.
- Gaming Facilities: A 24-hour international casino featuring a VIP gaming lounge, extensive slot machines, and live tables for poker, roulette, baccarat, and private gaming sessions.
- Infrastructure: A total built area of 13,500 m² situated on a prime 8,200 m² plot.
- Dining & F&B: 6 diverse dining and beverage venues, including gourmet Mediterranean restaurants, a rooftop bar, and a VIP lounge.
- Wellness & Recreation: * Full-service international spa, wellness center, and state-of-the-art fitness facility.
- Private Beach Club: An exclusive club operated by the hotel group, located just 13 minutes from the main property.
- Condition: Originally built in 2007 and benefited from a comprehensive renovation in 2019 (covering rooms, lobby, F&B, spa, and casino).
Strategic Location
Kyrenia is renowned for its historic charm and its status as a premier destination for luxury tourism and gaming.
- Connectivity: Excellent access to regional transit hubs, facilitating a steady flow of international leisure and high-roller guests.
- Environment: A stunning Mediterranean setting that attracts year-round demand due to its unique blend of cultural heritage and modern entertainment.
Financial Performance & Yield
The asset demonstrates exceptional financial health, with a significant portion of revenue driven by the high-margin gaming sector.
- Pricing Power (ADR): Strong performance in the luxury segment with an Average Daily Rate of €250.
- Occupancy: Consistent growth, projected to reach 80% in 2024.
- Projected 2024 Revenue Breakdown: * Total Estimated Revenue: €26,841,000.
- Casino Revenue: ~€11,000,000 (representing ~41% of total income).
- Room Revenue: ~€8,541,000.
- F&B & Events: ~€7,300,000.
- Profitability: * Projected EBITDA for 2024: €14,841,000.
- Annual Yield (ROI): 7.42% on the asking price.
Transaction Details
- Price: €200,000,000 + fees.
- Reference Code: RHC25169.
- Category: 5-Star Hotel & Casino.
Confidentiality Notice: This information is strictly confidential and intended exclusively for the authorized recipient. Detailed gaming licenses, financial audits, and operational data will be provided only upon the execution of a Non-Disclosure Agreement (NDA).