Tourism Sector Services
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Excellence in Tourism Tourism is one of the largest global industries. Worth $ 7.6 trillion in 2016, or 10% of global GDP share, some 292 million people are employed in the sector. Founded in 1995, Navigator Consulting is the advisory division of Numenor Capital Partners. We provide a wide spectrum of consultancy services across the investment cycle that delivery real and measurable results to clients. Our specialisation is investment advisory: the assessment, analysis and modelling of investments in real economy and innovation. Since our inception in 1995, we have advised on over 30 tourism investment projects delivering â‚Ź 1 billion in invested resources world-wide. Our clients include investment banks and private equity funds; hotel owners; hotel management groups, family offices, and others. In addition to due diligence, risk analysis and business planning supporting investments, we offer postinvestment support in the form of investment monitoring and consultancy support. 2
Tourism Investment Services We support the complete tourism investment cycle
Investment Analysis
Investment Advisory
Post-Investment Support
Due diligence Reprofiling and positioning Business planning Market analysis Price & risk analysis Financial forecasting Scenario planning
Investment Promotion Joint venture support Mergers & acquisitions Corporate valuation Privatisation studies Financing search Tax planning and optimisation
Post-merger integration Corporate restructuring Training and staff development Marketing and sales development Digital marketing Strategic information & intelligence Investment monitoring
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Product Experience: Hotels & Marinas Hotels We provide a full range of services relating to hotel investments including feasibility studies, hotel valuations, financial analysis and modelling, business planning, reprofiling and repositioning, product development, project management. We understand current trends for both resorts and city hotels. We connect hotel owners with hotel investors, negotiating win-win valuations for both sides. To date, we have advised on over 30 successful hotel investments in Europe.
Marinas Marinas are often seen as an anchor point for hotel and property development. Unless properly planned, owners find that marina investments have difficulty breaking even on an operating basis alone. We support marina investors in analysing and planning marina investments, ranging from development costs, regulatory issues, berthing fees, and ancillary services. Our services apply to stand-alone marina investments, or ones integrated in a wider property or tourism project.
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Product Experience: Golf & Property Golf As with marina investments, the main yield in golf developments is typically property sales and related operations. We support investors develop and value integrated or stand-alone golf developments, including income from golf, events, weddings, merchandise, accommodation, property, and related income streams.
Tourism & Residential Property Tourism property development as part of a wider hotel, marina or golf development typically comprises the highest, short-term yielding return from the development period. Yields can be extended through property management services offered by the hotel, creating a win-win situation for both the hotel owner, the property owner and, if relevant, the hotel managers. In addition to modelling and valuing large-scale property investments, we have experience with preparing AirBNB, Booking.com and equivalent rental models for single properties or small developments 5
Product Experience: OTAs & Digital Online Travel Agencies Online travel agencies such as Booking.com, Expedia and AirBNB are transforming traditional tourism operations. We have extensive experience in technical and commercial due diligence of OTA platforms, and have also advised numerous platforms on customer engagement management, pricing, yield management and digital marketing.
Digital Marketing & Technology Digital marketing and technology have fundamentally changed the travel industry, and will continue to due so. Technologies such as the Internet of Things, Virtual and Augmented Reality, Big Data, Artificial Intelligence and new payment systems will transform travel operations, just as the internet, social media, mailing systems and video marketing have already done so until now. We advise on tech start-ups in the travel sector, as well as on the capital investment and operational transformations from technology. 6
Consulting Team - Tourism Philip Ammerman
Managing Partner pga@navigator-consulting.com Princeton University, 1994; Cornell University 2006; Oxford University, 2018 Philip co-founded Navigator in 1995. He specialises in investment due diligence, financial modelling, business planning and risk analysis. He has implemented over â‚Ź 6 billion in completed investment transaction. Philip acts as principal consultant for hotel investment projects, and develops investment strategies in conjunction with investment funds as well as hotel owners.
Sotiris Karagiannidis
Partner skaragiannidis@navigator-consulting.com Athens Institute of Hospitality Management Sotiris is a highly experienced tourism consultant and operations manager. He began his career managing food & beverage functions in Mykonos at well-known resorts such as Cavo Tagoo, Santa Marina Hotel & Resort and Ambassador Hotel. At Navigator, he is responsible for providing high value investment advisory services to hotels and other tourism enterprises in Greece and Cyprus.
Pambos Solomonides
Partner pgs@navigator-consulting.com Pambos is a highly experienced conferences and events manager and tourism technology entrepreneur. His expertise is in the area of innovative sales and marketing campaigns and high-value events and projects. He has managed large-scale corporate training, conferences and incentives, product launches and related projects for Emerson Process Management, HSBC, Vauxhall, OMV, Audi, Renault, the World Rally Championship and others. He is co-founder and investor in 2 tourism technology start-ups. 7
Experience Overview A sample of recent projects is seen below: details on the following pages. 2017
Cyprus
Tourist Villa Property Analysis & Financial Planning
€ 56 mln
2017
Cyprus
Hotel Upgrade Study: Investment Analysis, Financial Model
€ 25 mln
2016
Cyprus
Leisure Centre Analysis: Business Planning & Financial Model
€ 5.5 mln
2016
Greece
Athens Apartment Tourism Rental Concept
€ 6.0 mln
2016
Cyprus
Phase II Golf Development: Retail Plaza, Hotel, Village
€ 96.0 mln
2015
France
Nice Hotel Acquisition: Due Diligence & Business Planning
€ 72 mln
2015
France
Chateaux Hotels: Due Diligence & Business Planning
€ 78 mln
2015
Italy
Venice Palazzo Conversion: Due Diligence & Business Planning
€ 19 mln
2014
Greece
Hotel & Marina Acquisition: Due Diligence & Business Planning
€ 400 mln
2014
Greece
Hotel Reprofiling, Financial Modelling, Investor Search
€ 13 mln
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Cyprus Villa Profitability Analysis, 2018
Profitability analysis, business valuation and 3-year financial forecasting for a leading Cyprus villa developer and property manager: over 250 properties in portfolio. Client: Villa Development Group
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Limassol Hotel Upgrade Study, 2017
Feasibility study and financial modelling for converting and upgrading an existing, 70-room 3* property to a 50-room boutique hotel on the Limassol Waterfront. Project implemented for a family office.
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Limassol Leisure Centre Feasibility, 2016
Financial modelling and business plan development for a â‚Ź 5.5 million project involving a tourist leisure centre and restaurant. Project implemented for a group of private investors.
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Athens Apartment Concept, 2016
Financial and property analysis for purchasing, renovating and operating a network of apartments near the historic centre of Athens, for AirBNB-style tourist rentals. Project implemented for private investors.
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Nice Hotel Acquisition, 2015
Investment due diligence on a 115-room, 5* property in Nice, France. Assessment of occupancy, revenue mix, yield management, MICE, building and renovation requirements. Detailed tax assessment. Project implemented for a UK investment fund.
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France Chateaux Chain Due Diligence, 2015
Due diligence and financial analysis on a hotel group comprising 6 historic properties with over 300 rooms. Project implemented for an international hotel fund.
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Golf Property Development Phase II, 2016
Feasibility study for Phase II of the hotel and property development aspect of an internationally-ranked golf course in Paphos, Cyprus. Project implemented for owner.
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Venice Palazzo Conversion, 2015
Hotel conversion project for a 14th Century Palazzo on Venice’s Grand Canal. Financial and market analysis for conversion to a 5* boutique hotel. Project implemented for owner.
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Athens Hotel Acquisition, 2014
Investment due diligence, financial modelling and detailed business planning for an integrated hotel, marina, property and leisure investment in Athens, Greece. Project implemented for a UK investment fund.
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Evia Hotel Valuation, 2014
Financial and property analysis, developing of room reprofiling and property repositioning. Investment promotion to foreign investors. â‚Ź 14 million project. Project implemented for hotel owner.
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Contact Us Philip Ammerman
Managing Partner pga@navigator-consulting.com
Sotiris Karagiannidis
Partner skaragiannidis@navigator-consulting.com
Pambos Solomonides Partner pgs@navigator-consulting.com
Classic House
Office 2 133 Archbishop Makarios Avenue Limassol 3085 Cyprus www.navigator-consulting.com www.numenorcapital.com
Navigator Consulting is a division of:
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