The hotel is located at Kanapitsa beach, 8klm from the town of Skiathos and the international airport “Alexandros Papadiamantis”.
The property is a 3* hotel and consists of 79 rooms withtotal surfaceof 3,888sqm.
The hotel facilities also include two swimming pools, arestaurant, a chapeland a personnel building.
The property is situated at a landplot of 7,135sqm.
The Company signed a lease agreement for subject property with Hotel Keys SA, a subsidiary of Hotel Brain SA., a renowned hotel management company.
The acquisition price amounted to € 3,500,000and the Company intends torenovate the hotel atthe end of 2020.
With the acquisition of Plaza Hotel, the Company's property portfolio includes 5 hotels of total value c.€ 20million and a total capacity of 266 rooms located in tourist islands (Paros, Tinos, Corfu, Skiathos) and Athens (under construction).
The above investment was financed by the net proceeds of €48.4 million from Company's recent share capital increase,of which € 20.3 million has already been invested in the acquisition 9properties.
Mrs. Anna Apostolidou, CEO of BriQ Properties, commented that "we continue to implementour investment programby acquiringhotels at established tourist destinations, such as Skiathos islandwhich has an international airport that welcomes more than 200,000 tourists annually.
This investment providesa good annual yieldand presents anopportunity for value upsidein the future".
