Buying a hotel in TRNC – a strategic investment with a precise goal
Buying a hotel in the Turkish Republic of Northern Cyprus is a profitable investment with an eye to the future, since this region, due to its specific diplomatic status as a partially recognized state, has long been out of sight of international investors. Today, the TRNC commercial real estate market is the fastest growing and most profitable among the resorts of the Mediterranean, given the low price level in comparison with other European countries.
At the same time, every year, more and more tourists and holiday-makers learn about this amazing island, and of course their flow is growing in proportion to the increase in prices for residential and commercial real estate in Northern Cyprus.
Our company experts in this field will provide all necessary information on the acquisition of commercial real estate in Northern Cyprus. Taking into account all the individual wishes and requirements of the potential investor, our specialists in business real estate on the island who possess in-depth knowledge of the TRNC market and all its peculiarities will select the most promising resort hotels for sale, including spa and small boutique hotels, taking into account the estimated investment budget.
In Northern Cyprus, it is possible to purchase a hotel or any other commercial property, including casinos, for cash or by bank transfer. Before making a decision on placing large investments in TRNC, we suggest using the free “Viewing Tour” service, for which it you just have to make an application to our managers who will immediately contact the potential investor or his representative for a preliminary consultation.
Our company guarantees complete confidentiality in the process of purchasing large commercial real estate, from the moment of receipt of the application for the acquisition and after the transaction is closed, keeping any information related to it secret indefinitely.
What makes hotels for sale in TRNC attractive
As practice shows, farsighted investments always generate income both in the short and long term. Given the powerful dynamics of the development of the real estate market in Northern Cyprus, including the commercial sector, local hotels for sale generate greater demand year on year among foreign investors.
The dynamic growth of investments in the hotel business of TRNC is down to a number of different factors:
- The active tourist season is 8-9 months a year;
- The annual increase in the flow of tourists and the growing interest of tourism companies in the resorts of the northern part of the island;
- Competitive prices and high profitability of commercial real estate, together with the steady increase in its value;
- Low taxes and favourable conditions for foreign capital investments;
- Full confidentiality of investments due to the lack of monitoring of international financial institutions with the specific status of a country as a state only partially recognized by the international community.
All of the above factors characterizing the prospects for the development of the hotel business in Northern Cyprus are a powerful argument for business analysts of large investment companies and small private businesses in favour of making timely strategic decisions on the purchase of one or more hotels on the island.
Our company experts will select the most profitable hotels with a powerful infrastructure of additional services for successful investments with high conversion in the resort business of Northern Cyprus. Thanks to the careful preliminary work of our specialists in the sale of large commercial facilities, we close transactions for the purchase of hotels in 1-2 days, after the negotiations between the representatives of the buyer and seller are completed.
Tactical steps to achieving high profitability in the hotel business in Northern Cyprus
Northern Cyprus offers favourable conditions for the successful conduct of business in any sector, including hotels with a host of related services. State executive bodies and administrations support both local and foreign entrepreneurs equally, thereby creating a favorable atmosphere for foreign nationals to do business in Northern Cyprus.
The rapidly developing infrastructure and the fast-growing economy of TRNC have created lots of benefits in favour of doing business on the island, which are successfully used by visionary foreign entrepreneurs who have launched their business projects in Northern Cyprus.
As a result, timely investments in the actively developing hotel business of TRNC may turn out to be a strategically important solution for the integration of foreign capital into the local infrastructure of the tourism sector.
Basic competencies of a hotel manager in TRNC
- Knowledge of the content of relevant decisions, orders, instructions and other regulatory documents developed by higher authorities in the hotel services sector.
- Understanding of the rules for the provision of hotel services, the basics of psychology and the effective resolution of conflict situations arising in customer service.
- Knowledge of the order of maintenance of all rooms in the hotel, enterprise management structure, rules and regulations concerning the following:
— safety precautions;
— occupational health and safety;
— fire safety;
— workplace hygiene.
Responsibilities of the manager of a hotel in Northern Cyprus
- Competent management of income and expenses of the hotel budget
- Effective hotel staff management and hiring new workers
- Quality control of services provided
- Development and enforcement of proper internal rules
- Organization of the process of quality customer service
- Financing specialized qualification and skills training courses for hotel staff
- Regular introduction of modern hotel technology into workplace procedures
- Quick and effective resolution of possible problems arising for hotel guests
- Timely tracking of incoming reviews and recommendations regarding improvement of the quality of services provided
- Monitoring the work of hotel staff
- Timely procurement of the necessary equipment and supplies for the smooth operation of all sectors of the hotel business
Prospects for the development of the hotel business in Northern Cyprus
After careful monitoring of local hotels for sale within the framework of the estimated investment budget and customer requirements by our commercial real estate experts, all the terms associated with the purchase are agreed and the contract is signed.
Upon completion of all formal procedures and the preparation of relevant documents that allow you to manage the business, the new owner of the hotel begins the equally important process of seeing to functional aspects of the enterprise, taking into account all the additional services that are usually associated with the resort segment of the hotel business and are an important component in its successful development and profitability.
Having smoothed out all the processes and mechanisms of the operation of a hotel in Northern Cyprus, the new owner receives full control over all business processes and basic levers to optimize the quality of the services provided to hotel guests and the related services sector (transfers, restaurant, spa, car rental, etc.), which directly affects the growth of enterprise profits.
Estimated cost of hotels for sale in TRNC
Boutique hotel in Kyrenia:
- 50 rooms
- fully furnished
- good location
£1 171 586
Hotel in Famagusta:
- sea view
- private beach
- fully furnished
£5 407 320
Hotel for sale in Kyrenia:
- 500 rooms
- area – 1,930 m2
- solar batteries for heating water
- fully furnished.
£6 578 760
5* hotel complex in Kyrenia (Girne):
- 174 rooms
- sea view
- private beach
- complex includes a swimming pool and fitness centre
£71 645 400
Making a decision on investments in the hotel business of Northern Cyprus
If you do not have experience managing your own hotel and do not know where to start, then it is better to contact an agency specializing in providing competent advice for the successful conduct of hotel business in Northern Cyprus. Our company can provide assistance and support in the selection of such an agency, under the after-sales service programme.