Location: Santa Eulalia del Rio, Ibiza, Spain
Guide Price: €21m
No. of Keys: 25 Suites
The Opportunity: This four-storey, all-suite hotel, each with bedroom and separate lounge (can take a family of four) and kitchenette, is located on the sea front surrounded by a pine forest. It is in the first line of buildings and separated from the sea by a stretch of pine forest which is 80m wide at the maximum. The land area is 3,405 sqm, with a building area of 2,623 sqm.
All suites have either a 4sqm balcony or 20sqm terrace. The suite sizes are between 39 and 50 sqm. There are three views from the suites: view of the hotel terrace and pool on the ground floor; a panoramic view of the pine forest, the sea and the seashore surrounding the hotel, on the 2nd and 3rd floors; the most spacious of the suites with increased comfort king-size bed, a terrace and a small garden, on the 1st floor.
The hotel has a restaurant, snack bar, open terrace with BBQ, it’s own laundry room, two pools, play-area with mini-golf, spa with jacuzzi, sauna and fitness room.
Included in the sale is a land plot of 1650 sqm, and a further building which contains a two-floor building with an overall area of 158 sq. meters. At present time the ground floor of this building is used as stock room and for technical needs of the Hotel. The 1st floor of the house contains 4 rooms and a bathroom.
In May 2006 the local planning authority gave authorisation to change the status of the hotel from 4 to 5 stars and to increase the number of suites. The hotel has now received all the necessary licenses to proceed with the construction of the extension building and
new facilities. This could be done at the end of the hotel season.
The Hotel is currently open from April/May to November depending on the demand. The occupancy of the hotel is 70%-100% during these months. However, the hotel has a license
to stay open all year around.
Future: the hotel can have up to 14 extra rooms or 28 official beds, if new building works are undertaken to make 38 suites. The total construction area will be equal to 1520 sqm. The new building is planned to have 6 floors including a lower ground floor, which could include:
• SPA with saunas
• indoor swimming pool
• massage cabinet
• fitness room
• additional kitchen stock areas
• additional laundry and personnel areas on the lower ground floor.
The ground floor will extend the existing restaurant and give the possibility of forming 3 separate restaurant areas. On the 1st Floor there will be one official suite and the rest of floor is taken up by 5-6 two person rooms intended as the hotel owner’s private residence.
Second to fourth floors will contain suites, of which six will have two bedrooms, a lounge and two bathrooms. Each of these suites is able to be converted into two independent rooms: one with a lounge and a bedroom and one being a simple two person room. This will allow the possibility to add a further 6 rooms.
With the change of the category to that of a 5 star hotel, it is possible to increase the prices by
75% on average. GB
Main Picture: The town of Santa Eulalia
Current Owner: Privately-owned since 1997 and converted to the current hotel in 2000
Flag and Management: Both free to the new owner
Financials: 2019 data available upon signing LOI/EOI, as well as building plans for the extension
Agent: THPT is direct to the owner
Guide Price: €21m
Price per Suite: €840,000
Date Posted: February 2021
THPT Comment: An opportunity to buy this four-star hotel, trading well, with the scope to expand and upgrade to five-star, in this popular part of Ibiza.
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MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.