- Country: Armenia
- Industry: Real Estate
- Stage: Exit/Sale of the business
- Employees: 150
- Investment size: $30,000,000 / min. $20,000,000
- ROI: 20% in 7 years
- Type of investment: Debt, Equity
Equity or debt financing of USD 20 - 30 mln is requested for 202 room 22k sq. m Wyndham brand hotel in Yerevan, Armenia.
A new five star hotel (202 room, Wyndham brand) being developed in Yerevan, the capital of Armenia. The location is 5 km from city center and 12 km from airport - 7 and 20 min drives respectively.
The hotel opening is planned to take place in the second half of 2014. The construction of the hotel is finished, currently internal renovation works are in place to be followed by furnishing / equipping works to be completed in 2Q2014.
The total area of the building is c. 22k sq. m, comprised of 202 rooms (in avg c. 35 sq. m ) , swimming pool (800 sq. m), conference hall (800 sq. m), restaurant (1,100 sq. m), bowling center (1,100 sq. m), tennis courts (1,200 sq. m) and parking (7,200 sq. m).
Opportunity for the investor
Total cost of the hotel is close to USD 36-40 mln. The projected IRR is 20- 23% with discounted payback period of max 93 months. The shareholders of the project are considering selling from 20 to 100% of the shares (or consider a loan for refinancing current exposure from local banks plus USD 5 - 10 mln to fully complete the project).
Looking for similar investment opportunities