Istanbul Hotel in Taksim. Excellent investment in the heart of Istanbul,Close to famous Taksim Square.
Istanbul, as the official cultural capital of Europe, is now even more popular with tourists and more exciting for investors.
Long Family Establishment,12 Rooms, 8 Floors, Hotel also includes a Restaurant & Cafe.
Daily Rate per room is 60 Euro
Annual ncome from rooms around Euro 216,000
Daily income from the Restaurant & Cafe is Euro 400
Annual income Euro 120,000
Total Annual revenue around Euro 336,000
At 40% Margin, this gives Euro 134,000
Which is approx 7% annual net yield.
This can be improved to 8-9% (hence pay back period of around 11 years) by some modernizations and upgrade. Average daily rates for hotels in Taksim area is around Euro 85.