Small family hotel in the center of Athens in a traditional neoclassical building in Kipseli area, in a very good condition with a recent renovation of the rooms with all the décor, modern décor equipped with a refrigerator – plasma TV (satellite reception) free wi -if and private bathrooms in a very good condition.
Building size is 522sqm built on a 240sqm plot and has 17 rooms on the ground floor and 2 floors.
There is an additional building factor which permits building a third floor of appx 250sqm for another 5 studio or 7 rooms.
On the ground floor there is a café – bar for 20 people sitting capacity, offering snacks, drinks, coffee. Prior to having the café, there were another 3 rooms that were removed and so turned into the coffee.
There is a 24-hour reception and room service and there is a washer / dryer in the basement.
The hotel is very close to the main streets (Fokionos Negris, Patision, National Archaeological Museum) and very close to a private hospital that is the main source of customers, as well as the Athens Courts that are very close.
The occupancy is 100%, even without a website, without a strong marketing, without trying to raise prices or for example a smarter management with semi-standard hosting that will boost the performance of each room eg up to 100 – 150 € per day.
The turnover currently being made is around € 30,000 per month (including the café) with an average room price of € 40-50 for the double and € 30 for a single room.
The building is clean without liens and loans and the reason why it is sold is the recent death of the father of the family and the decision of the mother to go abroad. The sale was decided in the last month and there are already two other interested parties and certainly because the price is good and the ability to pay back in 2.5 to 3 years is very certain to be sold rather than fast because the interested buyers are constantly growing.