Home Economy Strong investment interest in the loan portfolio of 75 hotels

Strong investment interest in the loan portfolio of 75 hotels

0
Strong investment interest in the loan portfolio of 75 hotels

Strong interest was shown in the portfolio of non-performing hotel property loans, which are being sold through competitive bidding. intrum. According to the information, binding proposals were submitted, inter alia, schemes in accordance with Bain Capital, American Apollo Foundationas well as a joint venture investment fund SMEremediumCap (Smerk) and his T. Laskaridis groups who is said to be working with the Israeli hotel group Brown Hotels. The said candidates, according to K, are applying for loans with a nominal value of 290 million euros for 75 hotels, although by the time the process is completed, their number may be limited to 70 for various reasons, which, according to market circles, will change hands at a price of not above 20-30% of the nominal value of the loan, that is, about 150 million, will also be a test of the investment climate in Greek tourism, which is recovering vigorously from late.

The largest of the 75 hotels for sale in the portfolio include a five-star apartment in Heraklion, Crete, with an estimated value of 17.1 million euros, a four-star apartment in Ouranoupoli, Chalkidiki, valued at 12.2 million euros, a five-star apartment in Kardamena. , Kos (11.1 million), five-star in Alexandroupolis and four-star in Skiathos (9 million euros). The assets sold also include four-star hotels in Chania (8.2 million euros), five-star hotels in Volos (7.7 million euros), four-star hotels in Chios (7.2 million euros) and five-star hotels in Thassos (7.5 million euros). euros), as well as residential real estate in Lavrio with an estimated value of 6.5 million euros.

About half of them are located in the Dodecanese, Crete, Corfu and the Cyclades.

Overall, about half of the 75 hotels are located in the Dodecanese, Crete, Corfu and the Cyclades. However, hotel units in Halkidiki are also included, some in towns and a few in mountainous and non-coastal areas. Collectively they have over 4,000 rooms, which means they are hotels with 50 rooms each on average, but there are also at least 10 larger units with more than 100 rooms. These are hotels with repaid loans and 6 out of 10 five- and four-star hotels. However, most of them require major repairs.

The dynamism of the Greek hotel sector in previous years has attracted increased investment interest from abroad, as a result of which hotel property prices were among the first to recover to pre-debt crisis levels, and in fact already in the mid-2010s. Since then, the continuous modernization of the services and infrastructure on offer has shifted the positioning of Greek tourism in international markets towards higher income strata, with the result that the country now competes directly with Spain, Italy and France rather than countries like Turkey and Egypt like this was in previous decades.

Author: newsroom

Source: Kathimerini

LEAVE A REPLY

Please enter your comment!
Please enter your name here