Egio, Peloponnese, Western Greece and Ionian 25100

The sole family & executive full service hotel in the center of Aigio Aigialeia Achaia, next to Psila Alonia square, with panoramic views of the Corinthian Gulf. It has a total area of 1580.92 sq.m. And extends to 8 floors. It has 33 rooms, and a roof garden that can be operated during the summer months, overlooking the sea.In addition, the hotel has a multipurpose room that can also be used as a conference center.It needs a staff of 6 people in total, to operate, it works 12 months a year and can be depreciated in 3 years.Its renovation can be subsidized by the Nsrf program up to 75%.Droukas Real Estate A.Location: The hotel is located in the center of Aigio city; very close (on foot) the center of the market and the city life, yet away from the noise, in a quiet location, overlooking the sea and the port of Aigio. It is in a strategic area, for people who are interested in archaeological, religious or nature tourism, sailing, scuba diving, wine tasting journeys, or skiing, as it is close to all kinds of activities. B.Hotel Description:This hotel was built in 1981 and was fully operating up to 2010. It has 31 rooms on six floors, and the 7th floor used to be the residence of the owner, a fully equipped floor apartment. It covers an area of 350 sq. M. And has a total surface of 1580.92 sq. M. At the basement, there was the breakfast preparation area.At the ground floor, there are the reception desk and the breakfast room with a service point and the sitting area. The rooms may be arranged properly to host 1 to 4 persons. The hotel has unique traditional aesthetics, with wooden sculpted details, marble floors, wooden frames and walls decorated with hard plaster. All rooms have bathrooms. Only six of the rooms have a view to the city, all the others, as well as the breakfast room and the owner residence have a view to the sea.The hotel has its own water drilling that covers 90% of the water consumption. Finally, parking is available on lease, next to the hotel; there is a private parking company with 8 underground floors and a capacity of 100 cars to park. C.Business potential:-During its operating period, the hotel had on average 85% occupancy rate throughout the year. The price per room/night was 120euro (pro-crisis).The operating costs were app. 6, 000 euro (pro-crisis).The owner was managing the hotel, so cost of hotel manager was absorbed. The owner stopped the operation of the hotel, only due to personal reasons (fatigue). -Now, there are the following possibilities; 1.Renovate the hotel with up to 75% subsidy from the Nsrf program. 2.Convert the basement to a fully equipped professional kitchen, so that the hotel is transformed to a full service facility. 3.Convert the owners residence on the 7th floor to suites or simple rooms, a conference area or even a restaurant. 4.Convert the 8th floor terrace to a roof garden. The view from the 7th and the 8th floor is stunning, and is worth being exploited.