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Kokari LtdStelios Koutsivitis Executive Director
Kokari LtdCompany Profile
Kokari is a hospitality investment and management company specializing in hotel development and management in South Eastern Europe. Kokari owns and manages Sheraton Sofia , a Luxury Collection Hotel and Metropol Palace in Belgrade , a Luxury Collection Hotel . Both properties are within the Starwood family. Our management team has managed many other 5 star properties in Greece , in the past , as well King George Palace form 2003 till 2010.
As a dedicated operator of luxury 5 star and 4 star hotels, Kokari offers a “total management solution” to hotel owners, companies or investors.
Company Profile
We seek to capitalize on hospitality real estate investment opportunities in Greece and South Eastern Europe, acquiring or managing and operating properties , rebranding and moving them to the upper scale segment , cooperating with international hospitality chains and supreme brands.
Topics
Global Tourism Market Overview Real Estate Funds investing in
Hospitality Case of Greece
International Tourism Growth
Global Market size in 2013 : 1 billion euros
Tourism arrivals
Tourism by destination
International Tourism by region of destination
International Tourism flow by destination
Real Estate Fundraising
Geographical Target of Real Estate Funds
Real Estate Funds IRR
Real Estate Yields in Southern Europe
Performance per Sector of Real Estate Funds
Niche Industrial Retail Office Residential Hotel0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
50% 48%
32%26% 26%
11%
31%28%
16% 26% 29%
44%
6% 12%
32%33%
20% 17%
13% 12%21%
15%25% 28%
US-Focused Closed-End Private Real Estate Funds by Strategy (2000 - 2010 Vintage Funds)
Bottom QuartileThird QuartileSecond QuartileTop Quartile
Prop
ortio
n of
Fun
ds
Revenue Growth in Hospitality
2012
NPLs of Corporate Sector
30
Greece
Funds investing in Hospitality
Contribution to GDP: 17% [WTTC] Contribution to Employment: 18,3% of total
employment [WTTC] International Tourism Receipts: 11bn.€ [BoG] International Tourist Arrivals: 17million MarketShare: 1,5%World,3%Europe
Greek Tourism Market
Significant Tourism flow Limited supply of luxury infrastructure Recently formed framework and national plan
regarding real estate planning, infrastructure and foreign investments
Limited supply of international operators-brands Large coastal land sites with residential
development potential to accommodate demand from Europe, Russia, Middle East.
Greek Tourism Market
Tourism products/services that have increasing demand from the European consumer are under-utilized (cruise, sailing, medical, culture, golf, city breaks, vacation homes, etc.)
Large source markets like Russia, China, US are not or very little tapped. • Significant room for growth in all major drivers (no. of visitors, avg. stay, avg. spend, capital investment) • Investments in PPP projects (marinas, ports, airports, seaplanes, etc.) • According to McKinsey, in 5 and 10 years tourism demand could exceed E50 and E65bn respectively, from E40bn today
Opportunity
Opportunity
Debt market remain quite constrained , creating difficulty for leveraged borrowers needing to refinance Continued distress materializes
Active Opportunistic Equity Capital and Private Equity Debt funds to fill the gap
Government develops attractive Legislative framework , showing strong will to boost and attract Foreign Direct Investments.
Greece has improved its fiscal account and is expected to restart economic growth.
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Kokari LtdStelios Koutsivitis Executive Director