CRETE LOUTRA HOTEL BUSINESS PLAN

Τhe Island of Crete

Presentation-Tourism Business Data

Crete is the largest island of Greece located in the southern side of the Aegean Sea, and the fifth largest one in the Mediterranean Sea. Being one of the most popular destinations of the country, holidays in Crete is the dream of a lifetime for millions of tourists around the World. The island is divided in four prefectures: Chania and Rethymno on the western side, Heraklion and Lassithi on the eastern side. The city of Heraklion is the Capital of the Island.
Holidays in Crete can be both busy and secluded, depending on each Visitor’s preference. Visitors of the island may admire the remnants of brilliant civilizations, explore glorious beaches, impressive mountain scenes, fertile valleys and steep gorges, and become part of the island’s rich gastronomic culture and folk traditions.

THE ISLAND’S INFRASTRUCTURE

The medical services in Crete are generally of high standards. There is at least one general hospital in the major cities and medical centers in almost every smaller town. Very well equipped private clinics and doctors’ offices of all medical specialties can also be found in the large cities.
There is also a plenty of sport facilities for different activities such as mountaineering, all kind of watersports, tennis, basketball and football which is the most popular.
Lastly, the Island contains a fairly good cable network. Internet is also available via dial up connections and ADSL. Mobile telephony covers even the most remote part of the island and it is provided by three or four companies with a wide selection of programs.

ROAD NETWORK

The main road in Crete is the national road that follows the north seashore of the island from East to West. This is a road that handles most of the traffic of the island. The rest of the roads range from smaller asphalt roads to all kinds of local road networks .

CONNECTION WITH MEANS OF TRANSPORTATION-PORTS-AIRPORTS

Crete has two of the most important ports of the East Mediterranean Sea, the port of Heraklion and the port of Chania (Souda). The island is connected with mainland Greece and quite a few of the Aegean islands, Europe and the rest of the world with a large number of passenger ships (ferry-boats) and freighter ships. The two ports play a significant role in effectively supporting the efforts of Crete to be an important commercial centre in the Mediterranean. There are also two smaller ports in Rethymno and in Agios Nikolaos. Additionally there are many small ports, marinas and anchorages around the island.
There are also two international airports operating in the island in Heraklion (Nikos Kazanztzakis) and in Chania (Ioannis Daskalogiannis) while a smaller one located in Sitia (East Crete) will soon be operational. The island is connected with most of the airports in Greece, Cyprus and many other European countries, with regular or charter flights. Companies that operate regularly on these airports are Olympic Airways & Aegean Airlines. Air traffic during the summer months increases quite a bit reaching 130 plane arrivals per day at Heraklion Airport.

TOURING AROUND THE ISLAND

Apart from using private vehicles in order to travel around the Island, visitors are able to use local Public Means of Transport, such as Buses which operate routes to the rest of the island. For those who prefer sea-transport there is the option of using boat routes or daily cruises around the whole Island or to neighboring islands.

ΤΟURISM DEVELOPMENT

In Crete, tourism remains the main driver of economic growth, meeting all modern requirements of high quality services. The Mediterranean climate, the sea, the sun and modern infrastructure make Crete an excellent destination for relaxing moments, satisfying the needs of the most demanding visitors.

Nights spent in hotels and similar establishments in Crete reached 15.6 mn in 2009, which represented 23.7% of total nights spent in Greece that year. Use of beds and similar establishments in Crete, for 2009, reached 61.9% in Rethymno Prefecture, 64.4% in Heraklion Prefecture, 58.9% in Chania Prefecture and 56.5% in Lassithi Prefecture, on average.

Project Crete

Business Proposal Description

Project Crete refers to the creation, operation and development of a of luxury Hotel Unit, in the Southern Part of the of the prefecture of Heraklion.

The basic objective is the Hotel Unit to attract demanding customers at domestic and mostly at international level. The configuration of the buildings and the subsequent operation management of the Units will be shaped in accordance to the specific goal. Crete is an ideal international tourist’s attraction, as it attracts visitors from around the globe (Europe, Asia, Russia, Arab States).

The proposed Building Configuration of each Unit will follow the dynamic trend of creating a complex of autonomous accommodation units (Villas) with personalized services, unique design style, and emphasis on the concepts of privacy, quality, comfort and luxury.

Architectural Configuration of the Proposed Facilities

Architectural Proposal Principles

Autonomous Accommodation Units (Villas) with private pools
Landscaping – outdoor Entertainment facilities

Construction Characteristics

External Stone Masonry – Wooden Openings
Wooden pergolas in the perimeter of each building for extra shadowing
Contemporary energy efficient E/Μ installations providing autonomy to each ‘Villa’

Private Villas Facilities

3 – 4 En-Suite Bedrooms
Living Room
Kitchen
BBQ
Private Pool

Project Details

270.000 m2 Plot in the Region of Loutra Gortyna Heracklion
70km South of Heracklion
Panoramic Position
Exceptional View to the magical Libyan Sea
70 km from Heracklion Airport
Direct contact to the Seashore
Sloping Landscape

Project Details

Architectural Proposal Principles

250 Autonomous Accommodation Units (Villas)
100 out of the 250 Villas with private pools
Landscaping and Entertainment facilities

Villas Facilities

Villa Area 130m2
3 – 4 En-suite Bedrooms
WC
Living Room
Kitchen

1 Central Reception Building
Area 225m2

5 Food & Beverage Οutlets
Area 300m2

6 Mini Markets
Area 60m2

2 Fitness Centers with Sauna Facilities
Area 225m2

Private Outdoor Sports Facilities
Tennis, Soccer, basketball Courts

Private Marina
For Yachts and Boats

Private Beach Area
For Swimming and Water sports Activities

Private Road Network and Cycling Network

Private Grove Area

The Hotel Unit will be created in accordance to Law 4002/2011 and Μ.D. 177 Fek 319/B/2012 related to the creation of ‘Complex Tourist Accomodation Units’.

Hotel Unit Development Plan

Step1: Creation of 250 autonomous Villas, Landscaping, fascilities within the plot

Step2: 30% of the Villas (75 Villas) will be purchased to other parties within the first year of the Unit’s Operation

Step3: The Unit operates with the rest 70% of the Villas, eg 157 Villas

Site Purchase & Hotel Unit Creation-Operation Economic Data

Site Area	270.000m2
Site Purchase Cost	20.000.000,00€
Brookerage Fees Plus Taxes	400.000,00€
Hotel Construction Cost (Buildings & Surrounding Areas)	51.000.000,00€
Own Capital Depreciation Time	8 Years
Average Villa Rental Prices Per Night	400,00€

Analytic Business Plan is available upon request

For more information please feel free to contact us

The proposed Layout of the Hotel Unit constitutes the best possible option for optimum advantage of the Plot based on the existing Building Regulation that governs the Area, the type of the Venture and the trend of tourist accommodation in the area of the plot.
The existence of En-Suite Bedrooms adds flexibility to the rental options of the Villas, which may be booked either as a whole or each En-Suite Bedroom separately.
In order to calculate the annual profits deriving from the operation of the Unit, a market research was conducted regarding rental rates of existing villas of the same size on the Island .These rental prices may be altered during the Start of the Operation of the Hotel Unit.
Nonetheless, the design of the Hotel Unit is typical and may be customized during the Final Design Stage in accordance to the will of the Investor.