Commercial real estate for sale in Paphos (downtown) (Paphos) 730m²

Hotel for sale in Cyprus, Paphos Hotel for sale with an area of 730 sq.m in Paphos. The hotel is located on 2 levels. The second floor consists of 7 bedrooms, 4 living rooms with kitchen, 2 living rooms, 6 shower rooms. The third floor consists of 11 bedrooms, 5 living rooms with a kitchen, 5 shower rooms. The facility has solar panels for heating water and air conditioning. The property is sold furnished. The property includes a parking space and a garden. The owners have a communal swimming pool on site. The aparthotel is superbly located in the center of Paphos, within walking distance of organized beaches, shopping centers, tourist and historical attractions. There is a bus stop opposite the entrance to the aparthotel. From there, you can reach iconic sites such as Aphrodite's Stone, Coral Bay and the Troodos Mountains in less than 1 hour. It is also very important that the aparthotel can be easily reached from the airport by public transport in just 30 minutes. Competitive advantages:* Swimming pool - in this segment and location this is a unique advantage that is missing from all competitors.* Thanks to the combined use of seasonal prices and the target consumer, ATHINAS COURT's occupancy is 75% of the number of rooms on average per year.* Higher revenues, since the implementation of the “Hotel without staff” idea and high automation of business processes significantly reduce fixed costs. Prospects: Since 2020, the Government of the Republic of Cyprus has made a number of changes to the country’s tourism legislation. In particular, it is now permitted to convert basements into residential premises to accommodate tourists. This allows the hotel to equip four more hostel-type double rooms. Thus, revenue will increase by 31%, which can bring additional income. In 2021, in accordance with the new law, it became possible to add another floor. This will increase the number of rooms by 12 double rooms, which will increase revenue.