Hotel in Spain 4957 sq.m. No. 151941

Property description

A 4* hotel for sale, located in the historic part of Palma de Mallorca, capital of the Balearic Islands, on one of the main commercial arteries, close to the seafront, the historic centre and the Cathedral. The location combines tourist, business and shopping traffic, ensuring year-round occupancy.

In a radius of 500 metres from the hotel there are:
boutiques of international brands Zara, Massimo Dutti, Bvlgari, Louis Vuitton and others;the shopping centre El Corte Ingles;a variety of establishments for all tastes and wallets;more than 10 hotels.
Modern 4* hotel, completely renovated during the pandemic, complete reconstruction of all rooms. The building has 78 rooms for 2-4 guests. On the top floor there is a bar-restaurant with a panoramic terrace overlooking the Bay of Palma, open to the public. It has an annual turnover of around €950,000.

Additional data:
average ADR = €200;average annual occupancy: 85%;average annual occupancy in high season (April-October): 95%; at street level there are three commercial premises with rental income of €390,000 per year, which further increases the investment attractiveness of the asset; the hotel is fully compliant with the 4* category, and if desired can be reclassified to 5* with a reduction in room stock by 15%.