Project_Thess_May16_TheoL

Project Thessaloniki - Investor Case
May 16, 2016 – Contact: tlampoglou@gmail.com

09/05/2016 LAMPOGLOU THEODOROS ,
TLAMPOGLOU@GMAIL.COM
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Building Info
• Building size 780sqm approx
• Levels 5, Floors 4
• Constructed in 1962-1965-1968 as
professional storage and light industry facilities
• Good standing and current condition – no
visible damages
• Ground and 1st floor are currently shops as per
Greek Law, upper levels are professional and
storage facilities
• Land freehold 164 sqm

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Investment Breakdown :
• Renovation & Licenses 350,000€
• Equipment, furniture etc. 100,000€
• Total Investment needed 450,000€
• Start up capital Equity 300,000€
• Finance or Subsidy or Equity 150,000€
• Property Market Value today 450,000€
• (Objective Value = 800,000euro)
• Total Investment w/Property 900,000€
• Property Value @ Exit 1,500,000€+
• Total Return on Exit: 250%+

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Proposal
• Due to limited bank lending, property owner is
seeking an investor to share the risk, co-invest,
cooperate in management, explore funding
opportunities as they arise through Government
or European initiatives for tourism in Greece.
• Asset can also be offered for sale or rent.
• All figures are estimates and subject to accurate
forecasting, final cost studies according to
engineers and surveyors.
• Potential for further cooperation for similar
developments in Greece.

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Thessaloniki Metropolitan Area
Thessaloniki
is the 2nd
biggest city
in Greece,
has 1,3m
people
population
and 2,0+mln
nights spent
by tourists in
hotels in
2014.
International
Airport and
over 120,000
university
students-
biggest
student town
in Greece.

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Thessaloniki Port Area and City Highway
• Hostel
proposed
location
next to an
Outlet
Fashion
Mall, 700m
from
Central
Railway
Station of
Thessaloni
ki and
future
Central
Metro
Station,
The City
Port and
Internation
al Highway

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Location & Transport
• Distance from City Center (Aristotle Sq.) = 2km
• Distance from Central Railway Station = 500m 7
min walking
• Distance from Central Bus Station of Macedonia
= 2km
• Distance from City Port = 1km
• Distance from SKG Airport=35min by bus
• Local Bus Stop (100m from building) to City
Center every 10min,
• Right next of “One Fashion Outlet Mall” with
Supermarket, cafes, cinema

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• Τhe location
of the
proposed
Hostel in right
on the main
highway -
west -leading
in and out of
the City. Next
to a busy
Fashion
Outlet Mall
with a
Carrefour
Supermarket,
7 movie
screens and
within 10 min
from
numerous
clubs and
restaurants
Thessaloniki “Old Rail-Way Station”, West City Entrance

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1st Option: Posh - Hostel
• Building size 750sqm
• Levels 5, Floors 4
• Beds approximately 60-70
• Average Net Nightly Price per Bed 12-17€ for
bunk beds of 4-6. 30-50€ for doubles /privates
• 4 rooms with 6 beds = 24 beds
• Ground floor lobby + kitchen + cafe

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Competition & Market Data
• Number of larger City Hostels operating in
Thessaloniki = 0
• Number of Hostels in Thessaloniki = 5 (size of
operating Hostels <40beds
• Number of Hostels compliant with new
regulations = 0
• Average prices per night =16€ per bunk bed -
24€ double per person
• Other low rating hotels offering low prices
• Over 2.0 mln nights spend each year
• Very limited Apart Hotel supply (non existent)

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Financial Forecasts 10 years –
• Revenues 2,300,000€
• Expenses 1,280,000€
• Profit (EBITDA) 1,020,000€
• ROI (10 YEARS) 111%
• Investment needed (Investor + Owner)=
950,000€
• Value after Completion (Exit) 1,500,00€
• Profit on Investment (Exit) 250%+

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Typical Hostel Room

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Annual Expenses @70%occup:
• Reception 40,000€
• Maids 25,000€
• Utilities + Prof. fees + Comm. Charges 36,000€
• Supplies & Maintenance 20,000€
• Promotion & Marketing 12,000€
• Total Annual Expenses 133,000€

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Annual Net
Revenues@70%occup. (after VAT,
OTA, City Tax)
• Rooms (occupancy 70%) 270,000€
• F&B 15,000€
• Other (Tours, bike rentals) 12,000€
• Total Annual Revenue 300,000€

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2nd Option: Apart-Hotel
• No of Apartments : 8units, 60sqm each, or 11u., 40sqm
• Occupancy assumed: 65%
• Avg. net nightly rate: 100euros
• Revenue per Apartment : 25,000euros
• Other Revenue: 20,000euros
• Beds : 35-45
• Total Revenue: 210,000euros
• Expenses: 100,000euros
• Gross Profit Margin: 110,000euros
• Return on Invest : 12%

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Building is 750
sq m in 5 levels,
4 floors, it was
constructed
between 1962
and 1968. It is in
good standing
and can be
converted into a
small hotel,
hostel,
apartment hotel,
or any other
commercial use.

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View from Park

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View from across the street

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Side View “One Fashion Mall”

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Front View - National Road City Entrance

Project_Thess_May16_TheoL

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