This development represents a major long-term value driver for the property, with strong ROI projections and a strategic positioning in one of Europe’s most high-demand tourist destinations.

Financial Projection Highlights

Some key preliminary highlights for the proposed hotel:

• Estimated Construction Cost: Approx. €22-24 million (subject to Quantity Surveyor review and/or design refinements)

• Estimated Room Capacity: Approx 175–185 rooms, pending final architectural design and permit adjustments

• Projected Return on Equity Investment: ~15%

• Base GOP (Gross Operating Profit): €3-3.2 million

• GOP per room (10-year average): approx. €20,300

• GOP Average (over 10-year projection): €3.7m

• Cash Flow Positive From Year 1

Areas

• Basement Area   E = 7800m²  

• Ground floor Area   Ε = 2000m²   

• Mezzanine Area   Ε = 1010m² 

• First Floor Area   Ε = 1765m²  + 280m² balconies 

• Second Floor Area   Ε = 1765m² + 280m² balconies 

• Third Floor Area   Ε = 1890m²  +  320m² balconies 

• Fourth Floor Area   Ε = 1890m² + 320m² balconies