Forton

ClubHotel RIU Helios Paradise: Prime beachfront Black Sea Resort

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Overview

ClubHotel RIU Helios Paradise, a prime beachfront international 4-star resort on the Black Sea, is developed by Terra Tour Service, one of the top hotel investors and developers in Bulgaria. Upon completion it will be a contemporary complex of over 75,000 sqm total built-up area situated on 162 000 sqm of prime land. ClubHotel RIU Helios Paradise will accommodate a top 619-room full-service hotel built to 4-star international standards. Forton has been involved in the project since its beginning as exclusive consultant and valuer.


The Challenge

Terra Tour Service approached us with the assignment to become an exclusive consultant and valuer of their unique beachfront property on the Black Sea Coast. We were assigned to evaluate the feasibility of a new large international resort in a complex and saturated hotel market on the seaside. In addition we were also requested to prepare a profound market valuation report for financing purpose.


The Solution

Forton analyzed each aspect of the future development - macroeconomic, tourism, market position and performed complex financial analysis to assess the viability of the project. Based on our market experience and the close cooperation with Cushman & Wakefield CEE Hospitality Team we provided a detailed report which helped the developer test the concept and make informed decisions about its future. In addition we prepared a market valuation in conformity with RICS and the International Valuation Standards to facilitate the loan application process.


The Result

Forton supported the existing business plan with an independent opinion on the proposed concept which implemented international hotel standards. We applied extensive market experience, comprehensive real estate data and hands-on insightful information. Our valuation service resulted in improved transparency and provided the condition for successful negotiations with potential partners.