Expansion of an Operational Tourism and Recreational Project

Investor or JV partner is required for a currently operational project, location is in Central Europe, in an UNESCO's world heritage site.

The goal of the project is to expand and already existing tourism and recreation center which provides new and attractive tourist services based on natural beauty of the North Hungarian Region.

The site area is 18.86 Ha. The location of the project is excelled and can be quickly reached on M3 highway and Route 25. The highest mountains of Hungary rise in the neighbourhood and a number of natural, historical and cultural sites wait for visitors.

The plot is listed as an area for tourist and recreation goals according to the local General Development Plan. The plot is classified as development area.

All architectural design works have been completed and licenses are in hand for Phase I, so work can start immediately.

The property is fully fenced around and has all the utilities, incl. electricity, gas, water, sewage system on site.

A wellness building, stable, riding hall, service buildings for horse riders, filagorie, rest places, fire places, etc. are currently on site and operational. The property is partly planted with trees.

Within the project existing buildings are to be converted and modernized in Phase I, along with the necessary infrastructure developments.

Upon completing Phase I 34 rooms are to be built - 3 star category - to provide accommodation for the users of the multiple day recreation services. The 34 rooms could accommodate over 70 persons 365 days a year. Smaller conferences, courses, meetings, etc. can be hosted in a completely green recreational area/

Project Phase I was granted €1 million non-refundable grants form the European Union. Full cost of Phase I is €3 million.

The project owner has 30 years of experience as hotel manager in top hotels in the region.

The rich tourist environment, the village in good condition and the high quality services provide undisturbed atmosphere for visitors arriving to the settlement. The guests can select from wandering, mountain cycling, horse riding and many other activities. In the strong tourist competition the village makes efforts for continuous development, permanent renewal and waits for guests with widening calender of programs.

The village can protect its advantageous tourist position only with continuous development of service and infrastructure. The current project is in harmony with these goals.

1. Infrastructure development for the increased number of guests, e.g. roads, parking area, water, sewage, etc.
2. Active Wellness Building 0 10 rooms completed on the first floor
3. Existing buildings to be converted into apartment buildings
4. Filagorie to be converted into restaurant to provide entertainment for the daily visitors and hotel guests.

Current assets are at the value of approx. €4,1 million.
For the first phase €2 million investment is required, 1 million € EU grant awarded already.
For the second phase between €4-10 million is required (depending on the amount of EU and Government funds could be obtained).