Published on 21/02/2017 in Investments
Navigator Consulting begins due diligence and investment advisory for a 500-room integrated tourism resort in Crete.
Today, Navigator Consulting began due diligence and investment advisory for an integrated tourism resort located in north-eastern Crete.
The tourism investment project is located near the historic town of Sitia, and involves development of a 650,000 square meter seafront land plot.
The project foresees the development of a luxury, mixed use, sustainable tourism resort that includes:
· A 300-room, 5* hotel operated by one of the top 5 hotel operators
· A 200-room, 4* hotel focussing on medical tourism and rehabilitation
· Development of seafront villas on total covered area of 23,000 square meters.
The tourism resort is being developed by an international developer with extensive experience in high-end residential property projects.
Sustainability is a key aspect of operations, and hotel design features energy-efficient construction and equipment.
The total hotel investment project is budgeted at € 150 million.
Crete has seen a strong growth in national and international tourism arrivals. Heraklion Airport saw 6.8 million arrivals in 2016, while Greece as a whole reached 30 million arrivals. There are major investments underway to renovate and expand Chania and Heraklion Airports, as well as the road network linking the coastal towns and cities. A new airport is being planned at Κastelli.
For further information on our tourism investment due diligence services, please contact us.