Hévíz-Nemesbük Thermal Project Summary

Information
about a Featured Project in Hungary
Map display of the location
Europe and Hungary
Hévíz-Nemesbük and the Project site
Hévíz-Nemesbük Thermal Project Summary
•
•
•
•
•
•
Hungary is famous for its excellent thermal- and spa facilities. However, the
Lake Hévíz is world-wide known due to its unique facilities. This location may
thank its popularity of many decades to the healing thermal waters for over
two dozens of diseases, to its wonderful natural environment and its
hospitality of great traditions. The area is a worthly candidate of the
honourable title UNESCO World Heritage.
At Nemesbük, near Hévíz, surrounded by the pure and undisturbed nature
we intend to establish a luxury hotel based on the therapeutic and
recreational utilization of thermal water.
The 4-5* hotels at Hévíz reach a utilization rate of 75-85 % and these are no
more able to satisfy even more sophisticated demands.
A unique feature of the project is that its balneological, therapeutical
background is provided by the Semmelweis Medical University of
international reputation.
The Hévíz-Nemesbük Thermal Real Estate Development Ltd. belonging to
the First Hungarian Real Estate Development Incorporation group purchased
at Nemesbük, near Hévíz, the areas necessary to realize the project with a
thermal water extraction option.
Preparation of the project has been made:
–
By means of an architectural tender we have chosen the
architectural design studio who dispose over considerable practice
in hotel design projects.
–
We have let working out the construction licence plans and possess
with a legally binding construction licence.
–
We have obtained the establishment permission of thermal water
wells providing supply to the medical ficilities and let them be
executed.
–
The documents substantiating the project have been completed
(feasibility study, environmental impact survey, video presentation,
etc).
–
The purchase of the real estate as well as the entire preparation of
the project has been effcted by own contribution. In order to start
the investment as soon as possible now we are taking steps to
involve an investment and an operating partner.
The activity to be developed
•
•
•
•
•
•
•
•
•
The area subject to the development project is located about 3 km near Hévíz, having a
unique panoramic view on the town and Keszthely bay, part of the western part of Lake
Balaton. The climate of the region is sub-mediterranean, the region is encompassed by a
forest from both east and west. The slight south-east slope of the horseshoe shaped real
estate lying on appr. 19 hectares ensures an undisturbed panorama from the facilities to be
built up.
The architectural classification of the real estate is a setttlement centre region of
institutional area with huge green surface, providing the build-in conditions necessary for
the project requirements. The necessary public utilities are available.
The area can be approached via the M7 (E71) highway from Budapest or directly by flight
from the Sármellék (FlyBalaton) airport located at 13 kms distance.
The location, due to its exceptional features, besides the development of traditional
tourism, to be achieved by the contribution of the Semmelweis University based on the
curing thermal water, to accept components of therapeutical, educational and conference
toursim as well.
The Hévíz-Nemesbük Thermal Real Estate Development Ltd. is the owner of real estates
being free from claims-, encumbrances- and lawsuits. The company has a consolidated
situation and is not involved in any other activity but the preparation of the project.
The cooperation of the Project Company and the Semmelweis University is regulated by a
long-term exclusive contract.
The Company is owned by Hungarian natural persons. The management is provided by the
General Assembly, incorporating the circle of owners as well as by the Managing Director,
whereby the touristic and therapeutical background is provided by expert specialists of
considerable professional reputation.
The Company Group has a remarkable experience and practice in project preparation, real
estate development and investment organization.
Target of the development is, based on the unique location, the natural environment and
facilities, to establish a thermal water based therapeutical, educational and recreational
centre of the highest standards at Hévíz-Nemesbük, including the major elements below:
–
***** Luxury hotel with 246 room and 111 apartment units and a conference
centre suitable for the reception of at least 800 persons, offering full-scale
therapeutical and wellness services.
–
Research-, educational-, training and rehabilitation centre of international
attraction, where all special areas representing the theoretical and practical
utilization of balneology should might find their place. This program shall be
realized upon the recommendation of the European Union jointly with the
Semmelweis University.
–
Villa Park, about 30 units of different size with the option of recoursing the
thermal water based services.
Strengthes of the Project
•
•
•
•
•
•
•
The development area is located at Hungary’s best known thermal water spa
resort, Hévíz, world-wide appreciated for its healing facilities, at the same time
in an undisturbed natural environment. The Hévíz thermal water and the
therapeutical features based on this are well-known and the booking rate of
hotels of high standards exceed 75% on a complete year basis and the
spendings of guests amounts to appr. the double of the national average.
The demand for unique featured touristic units with the highest quality
standards is increasing world-wide which may ensure a safe market and a
favourable return for the project. At the same time luxury hotels in Hungary
are mainly concentrated in Budapest, there are only 4 hotels of this category in
the province, the SAS Radisson at Bükfürdő, the Palace Hotel at Parádsasvár,
the Lotus Therme at Héviz and the Hotel Spirit at Sárvár.
This kind of engagement of the Semmelweis University is unique in the
european practice and at the same time enabling the theoretical and practical
training and education of specialists (balneologists, rheumatical specialists,
wellness instructors, masseuses) for the service of which an increasing demand
can be observed at home and abroad, too. The cooperation with the
Semmelweis University lends the project a unique attraction which provides a
guaranteed quality, reputation and credibility transmitted by participants of this
kind of education from all around the world.
The training, integrated into the educational system of the Semmelweis
University – beyond the fact that it may improve the reputation of the
institution – is suitable to contribute to the balanced and efficient management
of the facilities. The project has good chance to take part in numerous
development tender processes of the European Union and it may be the
„Flagship” of the currently launced „New Széchenyi Plan”.
The project possesses over the necessary thermal water contingent and wells
serving its extraction, which are - in respect of the medical characteristics – the
same as those of the Hévíz basic components, therefore they are suitable and
recommanded to cure at least a dozen of various diseases, from rheumatic
diseases to gynecological complaints.
The Municipality of Hévíz and Nemesbük widely support the realization of the
project, since it might increase the touristic attraction of the region, create new
workplaces and provides new sources of revenue.
The approachability of the object is getting more advantageous, since the M7
highway section has been extended to the border and the capacity of the
Sármellék Airport is also being widened.
Main technical data of the facility
FUNCTIONAL UNITES
LUXURY HOTEL*****
ROOMS
STANDARD APARTMENTS
EXTRA APARTMENTS
TIME SHARE APARTMENTS
COMMUNICATION AREAS AND STAIRCASES
CHAMBER-MAID ROOMS
LOBBY, SALOON, CIGAR ROOM
RESTAURANT, WINTWERGARDEN
WELLNESS, THERAPY
MUD CURES
SOTE MEDICAL THERAPY UNIT
ADVENTURE BATH
FITTNESS, AEROBIK
THERMAL BATH, SAUNAS, HAMAM
CONFERENCE CENTRE
WINE CELLAR
NIGHT CLUB
SQUASH FIELDS
MANAGEMENT OFFICES
PERSONNEL DINING, STORES
DEEP GARAGE
CUISINE
SERVICE
ECONOMIC SERVICE UNIT
LAUNDRY, STORES
PERSONNEL DRESSING ROOMS
MACHINERY
NET SURFACES M2
46 288
7 886
1 504
987
5 385
4 630
457
1 529
1 037
1 850
438
1 059
3 410
176
1 873
1 269
371
291
162
546
726
6 518
744
662
455
156
695
1 472
WATER SURFACES
INDOOR
OUTDOOR
1 832
1 112
720
SPORTS COURT
1 472
VILLA PARK*****
5 000
INVESTMENT DATA
INVESTMENT
EUR
HUF
Land, Building permits, Plans, Site Preparation
14 400 000
4 320 000 000
Construction, equipment, costs
61 419 944
18 425 983 289
Current assets & Operational Costs
4 900 000
1 470 000 000
Reserve
4 000 000
1 200 000 000
84 719 944
25 415 983 289
Edifices
53 161 361
12 898 188 302
Machinery, equipment
22 783 440
5 527 794 987
61 419 944
18 425 983 289
Equity
30 000 000
9 000 000 000
Credit
54 719 944
16 415 983 289
84 719 944
25 415 983 289
Land, Building permits, Plans, Site Preparation
14 400 000
4 320 000 000
Shareholder contribution
15 600 000
4 680 000 000
30 000 000
9 000 000 000
TOTAL
CONSTRUCTION COSTS
TOTAL
SOURCES
TOTAL
EQUITY
TOTAL
INVESTMENT REQUITAL
year 0
Earnings after
taxes+value
loss
Invested
amount
84 719 944
Cashflow
-84 719 944
Cumulative
Cashflow
Expected yield
%
year 2
year 3
year 4
year 5
year 6
year 7
year 8
2 851 671
7 226 019
9 469 254
11 505 110
12 050 375
12 534 572
13 024 090
14 029 527
2 851 671
7 226 019
9 469 254
11 505 110
12 050 375
12 534 572
13 024 090
-81 868 274 -74 642 255 -65 173 001 -53 667 891 -41 617 516 -29 082 944 -16 058 854
year 9
year 10
year 11
year 12
year 13
14 579 772
15 135 677
13 284 433
13 878 552
14 489 508
14 029 527
14 579 772
15 135 677
13 284 433
13 878 552
14 489 508
-2 029 327
12 550 445
27 686 123
40 970 556
54 849 108
69 338 616
-82 029 689 -75 598 558 -67 647 989 -58 534 865 -49 530 124 -40 693 745 -32 031 981 -23 229 683 -14 599 938
-6 148 255
849 819
7 747 034
14 540 281
4,675%
6,16668%
7,39022%
8,39985%
6,00%
Net present
value (NPV)
Internal rate
of return
Requital
year 1
#SZÁM!
11. year
#SZÁM!
#SZÁM!
-27,645%
-16,845%
-9,538%
-4,367%
-0,464%
2,449%
Requital
Images of the facility
Facades of the facility
Outdoor pools of the facility
Indoor pools of the facility
Lobby of the facility