The strategic partner
Provides capital and execution capability, assuming construction, completion and cost-overrun risks. The proposed allocation includes the completed 40-key hotel, associated facilities and long-term operating rights.
04 / THE INVESTMENT PERSPECTIVE
Grounded in place.
Structured for value.
Explore two source documents: the strategic partnership pitch and the June 2026 feasibility study. Each has its own budget, funding assumptions and transaction scope.
Download the investment summarySTRATEGIC PARTNERSHIP · PROJECT PITCH
Capital and capability, aligned.
€13.8mPreliminary total development budget
~€3.75mEU grant support stated in the pitch
~€10.0mIndicative net partner funding
Pitch figures are rounded: €13.8m less €3.75m equals approximately €10.05m. They are a separate scenario from the €11.2576m feasibility budget below. The pitch reports grant support as secured; award terms and availability require documentary verification.
The current owner
Contributes land, the project, development work and grant support. Retains the 28 completed serviced apartments, with approximately 1,807 m² of above-ground gross private area, subject to final transaction terms.
Apartment operating agreement and commercial terms
The pitch proposes an approximately 10-year exclusive operating or master lease over the 28 apartments, with a possible 2–3-year rent-free or reduced-rent stabilisation period, followed by minimum guaranteed rent and/or revenue sharing. All terms remain negotiable.
The indicative contribution analysis values the existing project at approximately €3.0m plus €3.75m of grant support, suggesting a roughly 40% / 60% economic contribution split. A potential €0.5m–€1.0m owner cash equalisation is discussed, subject to valuation, grant conditions, the final budget and negotiations. This is not an agreed equity allocation.
JUNE 2026 · FEASIBILITY FUNDING MODEL
€11,257,600
Equity / shareholder contributions€6,259,180 55.60%
PT2030 grant support€4,998,420 44.40%
Figures supplied by the project sponsor. Grant award documentation, eligible expenditure and disbursement conditions require due diligence.
JUNE 2026 · STANDALONE PROJECT MODEL
11.36%Modelled IRR
€3.23mNPV at a 7% discount rate
10 yearsModelled payback
The reported 10-year payback assumes an exit at the end of year ten. IRR and NPV describe the standalone project on total investment, not an investor’s equity return after grants.
Sponsor projections, not independently verified. Returns are not guaranteed.
INSIDE THE JUNE FEASIBILITY MODEL
61.65%Stabilised hotel occupancy
30%Apartment rental management fee
24Planned operational employees
The study assumes stabilisation in the third operating year, 1.74 guests per occupied room, apartment occupancy one-third below the hotel and apartment daily rates 50% above hotel rooms. Revenue combines accommodation, food and beverage, wellness, experiences, VR and apartment management.
Source: June 2026 feasibility study, sections 6 and 7. Its proposed funding includes Opportunities Fund 3 with 49% of the hospitality management company; that structure is distinct from the pitch partnership proposal.
EXPLORE AN ILLUSTRATIVE SCENARIO
What changes
the operating picture?
Adjust the hotel assumptions to see a simplified annual operating model for the 40 hotel rooms.
Starting assumptions are illustrative, not sponsor forecasts. Apartment income and other hotel revenue are excluded.
Annual room revenue€1,423,500
Operating cash contribution€427,050
Yield on net project cost6.82%
Simple payback14.7 years
How the scenario is calculated
Room revenue = 40 rooms × 365 days × occupancy × average daily rate. Operating cash contribution = room revenue × operating cash margin. Net project cost = €11,257,600 − grant received. Yield = operating cash contribution ÷ net project cost. Simple payback = net project cost ÷ operating cash contribution.
This simplified model excludes financing, taxes, replacement capital expenditure, ramp-up, other income and the time value of money. It does not calculate IRR or NPV and is not comparable to the sponsor’s complete model.
SHARED AMBITION. ENDURING VALUE.