Hospitality Experience

Valuation of NORDIS Mamaia

Horwath HTL was appointed to conduct an objective valuation of a landmark development in Mamaia, Romania, which is set to become one of the largest resorts in Europe.

This expansive project includes a 5-star hotel with 712 keys, 620 residential apartments, a 3,200 square meter Wellness and Spa center, a shopping gallery, and a range of supporting facilities.

Project scope

Horwath HTL was appointed to conduct an objective valuation of a landmark development in Mamaia, Romania, which is set to become one of the largest resorts in Europe. This expansive project includes a 5-star hotel with 712 keys, 620 residential apartments, a 3,200 square meter Wellness and Spa center, a shopping gallery, and a range of supporting facilities. Our role was to provide a comprehensive and independent assessment of the property’s value, reflecting its scale, complexity, and potential impact on the region’s hospitality and real estate sectors.

The valuation process began with a detailed analysis of the project’s components, focusing on the operational and financial potential of each element. For the 5-star hotel, we evaluated market trends, anticipated occupancy rates, ADR (Average Daily Rate), and RevPAR (Revenue per Available Room) within the local and regional luxury hospitality market. For the residential apartments, we analyzed demand drivers, pricing trends, and the appeal of the development’s location and amenities.

The Wellness and Spa center and shopping gallery were assessed for their contribution to the project’s overall value, focusing on their potential to attract both guests and local visitors, enhance guest experiences, and generate additional revenue streams. Supporting facilities were also reviewed for their role in bolstering the resort’s market positioning.

Using a combination of valuation methodologies, including the Income Approach, Market Comparison Approach, and Cost Approach, we delivered a detailed and substantiated valuation report. This included financial modeling, market benchmarking, and sensitivity analyses to provide a nuanced understanding of the property’s value under varying scenarios.

Our work equipped the client with a clear and reliable valuation, enabling informed decision-making regarding development strategies, investment planning, and stakeholder engagement. This project demonstrated Horwath HTL’s expertise in handling large-scale, multifaceted developments in the hospitality and real estate sectors.

Hospitality

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