Hospitality Advisory Tool
Hotel Development & Operations
Development yield · NOI per key · RevPAR · DSCR · Total IRR — Greece & Switzerland
Hotel category
Boutique hotel (4★, 10–40 keys) — typically owner-operated or soft-branded. Crete: peak season dependency, strong ADR uplift June–September. Development cost: €120–180k/key. Stabilised NOI margins: 28–38%.
Market
Site & Acquisition
keys
EUR
Crete coastal land: €50–300k per 1,000 m²
%
m²
Construction & Fit-Out
EUR/m²
Crete luxury: €1,800–3,500/m². Zurich: €3,500–6,000/m²
EUR/key
Furniture, Fixtures & Equipment + Operating Supplies
% of hard cost
EUR
Staff training, marketing launch, initial inventory
Financing Structure
35%
% p.a.
years
months
Development Results
Development note (Greece): EOT (GNTO) classification required before operation. ESPA / EU co-financing available for hospitality projects in Crete (up to 40% grant on eligible capex). Typical timeline: permits 12–24 months + construction 18–36 months.
Revenue Parameters
EUR/night
Crete luxury boutique: €200–600. Zurich 4★: €280–500
68%
Crete seasonal: 55–75%. Zurich: 70–85% year-round
months
Crete: 8–10 months. Switzerland: 12 months
28%
12%
Operating Costs
42%
Rooms dept ~25–30%; F&B dept ~60–75% of dept revenue
22%
0%
International brands: 2–4% of revenue + incentive fee
3%
22%
Greece corporate: 22%. Kanton Zürich: ~18–21%
Operations Performance
RevPAR benchmark (Greece, 4–5★ coastal): €120–220 stabilised. NOI margin target: 28–38% for branded, 32–42% for independent boutique. DSCR above 1.25x typically required by senior lenders.
Stabilisation & Ramp-Up
years
Year 1 occupancy assumed at 60% of stabilised rate
3.5%
years
Exit Assumptions
6.50%
Crete luxury: 6–9%. Zurich prime: 3.5–5.5%
15%
2.5%
10.0%
Exit & Total Returns
Hotel transaction market — Greece: Active buyer pool: Greek REPE, pan-European hospitality funds, family offices. Current cap rates: 6.5–8.5% for Cretan luxury. Zurich: 3.5–5.5% (Swiss Pensionskassen, DACH funds). INVéSTIA maintains direct relationships with institutional buyers across both markets.
Investment Summary
Golden Visa & ESPA (Greece): Hotel development investments ≥ €400k in integrated tourist facilities may qualify for the Greek Golden Visa Programme (5-year residency, renewable). Under the National Recovery & Resilience Plan, hospitality investments in Crete can access grants of 25–45% of eligible capex. INVéSTIA provides full ESPA application support.
Swiss hotel licensing (Kanton Zürich): Betriebsbewilligung required. Health & fire compliance mandatory. Operators must register under the Gastgewerbegesetz. Staff subject to GAV L-GAV collective agreement. INVéSTIA Zurich team provides pre-licensing advisory.
Disclaimer: Provided by INVéSTIA Properties L.P. for indicative purposes only. Not financial, legal, tax, or investment advice. Hotel development projections are highly sensitive to market conditions, operator performance, and regulatory environment. All figures are pre-financial close estimates. Returns are not guaranteed. © INVéSTIA Properties L.P. — Crete · Zurich · Mediterranean.