In recent years, investors have shown an increasing interest in mountain residences and hotels in Cyprus.
They are willing to invest in their reconstruction and development of the nearby infrastructure. Many Troodos hotels that were abandoned or closed over the years have already passed into the hands of new owners. Thus, they received a new life.
- Petit Palais was resold, completely renovated and recently reopened in Platres,
- Splendid received permission for reconstruction,
- Mount Royal is in the process of restoration,
- Minerva was resold, the new owner plans to open it soon,
- Kallithea is rented out on a long-term basis, it is currently undergoing a complete renovation so that the hotel can open its doors to visitors by the summer of 2022,
- Forest Park is leased for a long term, is in the process of reconstruction.
As noted by Panagiotis Papadopoulos, leader of the Platres community and president of the Troodos Network, investment interest in mountain hotels is still huge. And you can become the owner of a similar business in Cyprus.
List of hotels and buildings currently for sale:
Pendeli Hotel - €550 thousand (investment equity participation)
The hotel, located in the heart of Platres, is currently undergoing renovation. It has 81 rooms, 39 of which are luxury suites. A 4-storey building with a private pool, spa, conference room, concierge, bar and private parking is planned on the territory of the hotel. The total area of the hotel is 4702 m2.
Mansion in Pano Platres - €850 thousand
Traditional building located in the heart of Pano Platres. It can be used as a residential building or converted into a hotel. In addition to 12 bedrooms and 3 bathrooms, the 3-storey home has a wine cellar, laundry room, spacious rooms and a common area, and a kitchen.
Edelweiss Hotel - €1.5 million
The hotel is located near the center of Pano Platres. The building has been a landmark for holidaymakers for over 40 years. It is now up for sale. The hotel is in good condition and has all the necessary equipment for work.
The building area is 800 m2 and the land plot is 1000 m2. The hotel has 3 floors with 25 rooms. The building was built in 1976, and in 2017 the hotel was completely renovated.
Family villa - 950 thousand euros
Large family villa located on the Moniatis - Platres border. The building is located on a hill with a beautiful view of the forest. House area is 250 m2, the land area is 1,624 m2. Inside there is a large kitchen, dining-living room, three bedrooms, bathrooms. Outside there are two large terraces and a swimming pool. There is a separate road to the building. The hotel can be used as a residence or, with minor modifications, as a short-term holiday home for tourist purposes.
Pafsylipon Hotel - € 1.1 million
This is one of the most legendary hotels in Platres. It is located in the very center of the village. Has an excellent infrastructure. The hotel was destroyed by fire and is currently being restored. The owner requested a special permit to keep the old building occupancy rules in order to maximize the number of rooms and amenities in the hotel.
Aidonia - € 1.2 million
The hotel has 18 rooms, two restaurants and three bars. Its area is 1150 m2, and the land plot on which it is located is 3,000 m2.
Ekali Hotel - 4 million euros
Well maintained hotel in Kakopetria with panoramic mountain views, consists of 48 rooms. The hotel has a restaurant, bar, lobby, conference room, terrace. The hotel, which is built on an area of 886 m2, is well known to Cypriot and foreign tourists. Potential investors have the opportunity to buy out nearby land plots and equip them with a pool or any other necessary infrastructure.
Rialto Hotel - 800 thousand euros
Traditional hotel located in the center of the village of Kakopetria. Requires renovation. The three-storey hotel has 38 rooms.
Habitat Health Hotel and Slimming Resort
The 3-storey hotel with 35 rooms is located in Pedoulas and specializes in tourism and healthcare. It includes a dedicated gym, sauna and steam room. It also has a large kitchen, lounge, restaurant for 75-80 people and a bar. The hotel was established as a wellness center and resort. It has been well maintained for the past two decades. The hotel is available for purchase or long term rental.
Bonus - stunning villa hotel in Limassol for € 1.75 million
Unique in its location and architecture, designed by award-winning British architect Derek Bruce, this lakeside villa is located in the picturesque village of Akrunta.
A cozy and small hotel, enveloped in a relaxed atmosphere, in which every guest will feel comfortable. The hotel has common areas - a hall, administration and a large swimming pool, 3 warehouses, a large kitchen and dining room, 8 rooms, each with a bathroom. The resort and city infrastructure necessary for a comfortable stay is within a minute's reach. Sandy beaches and the crystal clear waters of the Mediterranean can be reached in 10 minutes by car.
The total project area is 4961 m2 and the covered living area (spread over 3 levels) is 650 m2. By purchasing this hotel, the buyer receives not only a profitable business, but also an excellent investment.
Attention! The hotel is operational, has a CTO (Cyprus Tourism Organization) license, as well as a reputation of 9.7 points on Booking.
You can find out more information about residential and commercial properties in Cyprus on the DOM portal. The site features over 20,000 properties in Cyprus. Choose and contact professionals who will help you make the right choice!
Photos: DOM LiVE, inbusinessnews.reporter.com.cy