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Befektetési lehetőségek Hungarian Investment Opportunities
I. Medical wellness Hotel**** in Tiszakécske
PROJECT DEFINITION: Establishing a 78 room-4 star-medical wellness hotel with conference rooms in Tiszakécske with an international hotel operator in green field investment.
PROJECT STAGE: developed project with business plan, feasibility study, financial plan and cash flow calculations.
TOTAL REQUIRED INVESTMENT VOLUME (estimated): € 8.000.000
ROJECT CONCEPT, technology, (planned) product, service:
A 78 room-4 star-wellness-medical-conference hotel with thermal water. The hotel will be built on the bank of the Tisza river with a beautiful view on the Tisza bend.
The site (plot) is owned by the municipality of Tiszakécske. It’s size is 10.112m2, the total net built area would be 8.000m2 on 4 floors, which means an occupation of 26%.
Rooms: 71 double rooms and 7 suites.
Planned services: lobby bar, restaurant, café, 3 conference halls, (1 big hall+ 2 section rooms) café, business centre, boutique, deep garage, internet, wireless, laundry
Wellness services: 1 interior pool, 1 adventure pool which has outdoor and indoor parts, 2 kinds of sauna (Finnish, infra), steam cabin, solarium, 4 kinds of beauty care services (hair dresser, cosmetic, manicure, chiropody), at least 6 kinds of massage, reform kitchen, fitness room, cardio machines with a personal trainer, aerobic room with an aerobic trainer (aerobic, yoga, spine gymnastics, spinning), animator, therapeutic centre, physician’s offices (dentist, naturopath).
 The alkaline hydrogen carbonate thermal water with 63 C temperature is suitable for the curing of several kind of illness. Especially it is suitable for curing gynaecological illnesses and for the organ locomotion injuries. Two spas operate in the city’s area: The Tisza-Bank Thermal Bath, and the Kerekdomb’s Thermal Bath which is situated in the outer area of the city. The Tisza-Bank Thermal Bath welcomes 150 000 guests a year with its magnificent services, since it’s redecoration in 2006. The less modern Kerekdomb’s Thermal Bath welcomes 45 000 tourists a year.
The thermal water supply is guaranteed by the municipality from a well which is in operation and has all the necessary licenses. The well is 460 ms from the site. The maximum capacity of the well is 400 litres/minute. It provides 53C warm thermal water, which has very positive effects in curing gynaecological illnesses, rheumatic problems and organ locomotion injuries.
The hotel will be operated by IBB Hotels, a German-Spanish hotel chain with 20 hotels in Spain, Germany and Poland.
COMPETITIVE ADVANTAGE OF THE PROJECT:
§ Location: premium level medicinal thermal water in a well-known holiday resort with more than 200.000 guests/year
§ Lack of hotels in the city.
§ Premium-level medicinal thermal water for curing gynaecological illnesses, rheumatic problems and organ locomotion injuries.
§ Operation: IBB is an international hotel operator with 17 years of experience. Filling the hotel with guests will be done professionally by IBB.
§ Reasonable construction costs: raw material and human costs are 30-60% bellow the Western-European prices, on European standard good quality level.
§ The municipality supports the project
° EU subsidies can be gained (40% of the investment costs).
MARKETING PLAN, Customers of Project:
As a tourists destination Tiszakécske is well-known, not only in domestic relations, but in the international level too, many tourists arrive to the city form Germany, Austria and the Netherlands. The region is suitable for active relaxation and entertainment for young persons on the other hand it is perfect for the older ones, who would like to relax.
The potential customers/guests are retired people from Spain, Germany, the Netherlands, Austria, Hungarian families and Hungarian companies holding conferences, trainings in the hotel.
The guests will be brought by the hotel operator. IBB Hotels will use its customer data base to offer its customers the new hotel with attractive prices. IBB Hotels will use tour operators to promote the hotel with well priced packages. IBB will start a strong marketing campaign to introduce its new hotel in Hungary.
STRENGHTS:
- Premium-level medicinal thermal water
- Well-known holiday resort
- Good accessibility (M5)
- All year open Thermal Bath
WEEKNESSES:
- Strong seasonal effect ( 3 months)
- Limited accommodation capacity in town
- Low tourist infrastructure
- Low stay period
OPPORTUNITES:
- Growing EU supports
- Increasing demand for wellness and fitness
- Strengthening demand on medicinal-tourism
- Excellent service for good prices
THREATS:
- Environmental pollution
- Economic crises
- Decrease of the international interest
Natural disasters
INFORMATION ABOUT THE (FUTURE) MARKET:
Market research: The international tourism trends have a big influence on Hungary’s tourism development, the features are the following:
· Comfort and safety: The average age is getting higher nowadays, which caused that the tourists’ needs are rising in the conditions of comfort, safety and in accommodation too.
· Medical-wellness services: elderly, retired people will spend more time and money for medical services, families with children and young guests seek wellness services.
rising number of young tourists: The use of internet, on-line booking, budget flights are very popular among young people, and the chosen destinations are mostly the Central Eastern European countries.
INFORMATION ABOUT THE (FUTURE) MARKET:
Analysis of competitors:
There are 24 commercial accommodations, 11 private accommodations and 1552 holiday cottages in the city, which await the tourists. There isn’t any hotel or high-level accommodation in the city.
However, the 190 000-200 000 tourist traffic of the city would demand a building of 4 or a 5 stars hotel which is enlarged with high-level wellness services.
The tourist traffic doesn’t finish with the end of the three month summer season, since the salutary effect of the thermal water is maximally enjoyable in winter time, too.
4star-hotels can be found in Cserkeszőlő (25 kms) Aqua Spa Conference and Wellness Hotel, in Szeged (96 kms) Hotel Dóm, in Szarvas (55 kms) Liget Wellness and Conference Hotel and in Orosháza (92 kms) Hotel Corvinus Aqua. They are all small and privately managed (family business) hotels. They do not belong to any hotel chain, it means less potential guests. They are far from the thermal water of Tiszakécske.
INVESTMENT PLAN:
Required Capital Used for (in euros):
Purchasing the real-estate (site): 200.000
Buying the feasibility study, conception plan: 160.000
Building costs: 6.000.000
Infrastructure:100.000
Architectural plans: 240.000
Equipment, furniture: 610.000
Marketing costs: 110.000
Puffering (7%): 360.000
Current assets: 170.000
Pre-opening costs: 50.000
Return on Investment (ROI): 53%
IRR: 4,93% (calculated with 10% discount rate)
Payback period: 10,64 years. (calculated with 10% discount rate)
The hotel has been planned in a very conservative way:
- occupation starting with 28% and reaching maximum 60% in year 9 and 10, plus
- average price / person starting with EUR 42 and reaching maximum EUR 46.
TYPE OF REQUIRED INVESTOR: Financial
form of partnership: acquisition of the project: buying the real-estate (plot), the feasibility study, the market research and the concept plan.
PROJECT LOCATION:
Distance to Budapest(capital): 115 km
Distance to M5. motorway: 30 km
Distance to nearest international airport: Ferihegy - Budapest: 115 km
Concept plan of the hotel – ground-floor
Concept plan of the hotel – first-floor
up: Northern façade to the Tisza river
down: Southern façade to the street
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