Indicative projects

A. OTHERS

A1. Tourism in Greece

Country tourist survey

Our firm is in the course of preparing a detailed survey on the tourist market in Greece. The survey examines the current state of the Greek tourist market and its future potential. It addresses, amongst others, issues such as:

• Tourist inflow to Greece by nationality and point of entry; 
• Tourist accommodation by category and tourist destination in Greece; 
• Identification of areas with tourism development potential; 
• Investment incentives.

A2. Exports to Japan

EU study

Our firm participated in a major EU study aiming at locating the goods and services that each country member of the European Union can successfully sell/export to Japan. One of the industries we highlighted that can successfully render services to the Japanese is the Greek tourism industry. In this respect, we carried out a study to ascertain how Greece can be successfully promoted to the Japanese tourist market.

A3. Association of Greek Tourist Enterprises (SETE)

Executive recruitment

This association was recently established in Greece to represent all enterprises involved in the Greek tourism sector (hotels, travel agencies, airlines, car rentals, yacht rentals, etc.) Our firm was appointed by the founding members of the Association to recruit the Chief Executive Officer of the Association.

A4. Foundation of the Hellenic World

Feasibility study

The Foundation of the Hellenic World (FHW) is a non-profitable organisation founded by one of the wealthiest families in Greece, the family of Lazaros Efremoglou, with the mission to collect, preserve and present the memories, experiences and values of Hellenic communities throughout time.

Our firm together with Greene Belfield-Smith were commissioned by the founding members of the FHW to prepare a feasibility study for the establishment of a museum/cultural centre in Athens. The foundation plans to develop a prototype centre, where Greek people and international tourists can experience the Hellenic civilisation through displays and live cultural events with the use of high technology audio-visual systems (simulators, multi screen equipment, multimedia, virtual reality systems). Our report included an analysis of economic, cultural and tourism statistics for Greece so as to assess its economic and tourism profile and the performance of other competitor facilities. We also conducted a desk and field market research into the main source markets for international tourism into Greece and the Hellenic Diaspora world-wide aiming at:

• providing estimates of the number of visitors to the centre, their profile and spending patterns
• benchmarking with international comparables related to particular aspects of the proposed development.
• Considering the impact of the above, we prepared illustrative profit and loss projections to examine the viability of the centre and also evaluated various sensitivity scenarios. Finally, we researched the possibility of receiving grants from the Greek government and /or the EU and applying for tax exemptions.

A5. Asteria Glyfada Complex

The site has an area of 280,000 m2 with a 5klm shore waterline in the southern suburbs of Athens. It is perhaps one of the top three sites of greater Athens and it is characterised by exceptional natural beauty and location. This development will comprise of:

• a hotel with 100 bungalows (the bungalows are already in existence and will be renovated)
• a multiplex cinema 
• beach facilities  
• an aquatic museum 
• themed restaurants 
• other entertainment
• various retail outlets 
• a water park based on Greek mythology  
• facilities such as video arcade, multi media etc.

A shuttle bus will connect the development with the Glyfada golf course, which is about 8 minutes away. The cost of the first phase of the project is estimated to be of the order of US$ 49 million and the second phase US $ 28 million.

We were assigned to:

• prepare a brief market analysis, locating at the same time competitive profit centres in the wider area of interest of the development; 
• carry out the international marketing of this complex by locating appropriate international operators and/or equity investors for the various profit centres; 
• advise on the financial structuring of this project

We should note that the location is within 10 minutes drive of the existing Athens airport and not more than 40 minutes drive from the new airport at Spata that will commence operation from March 2001 onwards.

A6. Sepolia Entertainment Complex

The site is a prime site along Kifisos Avenue in the western suburbs of Athens and the owning company is a listed company at the Athens Stock Exchange. The site comprises of an old winery and the British firm of architects that prepared the design of the complex have incorporated the old winery within the surrounding high-tech structures and features of the complex. This development will include:

• a multiplex cinema
• a video arcade 
• themed restaurants  
• a bowling centre 
• discos  
• various retail outlets

We were assigned to:

• carry out a market research locating at the same time the competitive profit centres in the wider area (10-15 minutes drive from the particular location); 
• analyse parameters such as surrounding population, accessibility to the site, location of population centres of interest; 
• prepare a prospectus for the particular complex; 
• locate interested tenants and/or buyers of the various parts of the site; 
• advise the client on the financial restructuring and methods of financing of the project.

A7. Mythos Park<</h4>

Airtour Greece, a subsidiary of the German tour operator TUI asked us to carry out a pre-feasibility study in co-operation with Deloitte UK for the establishment of a Greek mythology park at a prime site near the new (Athens) Spata airport in the outskirts of Athens.

The pre-feasibility study included:

• analysis of the theme parks in Europe and the USA; 
• analysis of the tourist market in Greece; 
• comparison of the theme park under examination with the characteristics of a sample of other theme parks in Europe in order to estimate the possible demand; 
• comparative analysis with similar theme parks as far as prospective revenues and cost of operation adjusted for Greece are concerned, in order to determine the viability of such a project in Greece; 
• sensitivity analysis; 
• consideration of various forms of financing the particular investment.

ITT Sheraton also showed keen interest in the project to undertake the management (and possible equity interest) in the two hotels that could serve also as airport hotels.