- Location of the hotel: the hotel is being built in the prestigious part of Kaunas city - Laisves Avenue, attractive for both tourists and locals. It is a great place to stay for those who want to discover the charm of Kaunas and have convenient access to all the city's attractions.
- Opening date: The hotel is scheduled to open its doors to guests in August 2024.
- Extensive real estate experience: The group of companies has extensive experience in the real estate sector, including project development, financing, and management. The company has developed over 20 unique real estate projects. This ensures that the project will be implemented professionally and efficiently.
- Personal investment: The project owner has already invested EUR 226 000 of his own money. This shows his commitment to the project and his belief in its success.
- Personal guarantee: The project owner also provides a personal guarantee, which provides additional security for the investors' funds.
About the project owner:
The project owner has developed different property projects („Balsiu idile", „Loftai Vytenio g. 54", „Loftai Sevcenkos 16A“, „Loftai Vytenio g. 14“).
About the project:
After conducting a market analysis of hotels in Kaunas, the developer noticed a shortage of attractive places to stay temporarily. Currently, there are only a few well-known brands in Kaunas, such as "Park Inn", "Ibis" or "Best Western",and no new places to stay have been opened in the last five years. As a result, the developer decided to build a new hotel in Kaunas.
Project objective:
The hotel will have 19 rooms, 10 of which will be located on the second floor and the remaining 9 in the attic (5 with windows facing Laisves Avenue. and 4 with windows facing the courtyard). According to the Centre of Registers, the registered completion rate is 100% and the actual completion rate is 80%. The developer intends to refinance the existing obligation with a bank or credit union within two years. The estimated annual rental income for all rooms is EUR 306 432. Interest to the investors will be paid by the shareholder loan and 7% by Invega UAB until the hotel is operational, and thereafter by the hotel's operating revenues.
The hotel is located in a prestigious place of Kaunas - Laisves Avenue. The heart of Kaunas unfolds from the hotel's windows, surrounded by heritage buildings housing well-known brands, cafes, and other diverse restaurants. In terms of transportation, the hotel is located in a very attractive location: several public transport stops are nearby. A particularly big advantage is that a large part of the hotel rooms have windows overlooking Laisvės Avenue, so future vacationers will be able to enjoy their morning coffee with a beautiful view.
Kaunas hotel market has been experiencing very high occupancy rates (55-78%) for several years, which indicates a lack of hotel supply. The occupancy rates in Kaunas remain among the highest in the hotel market as of 2018, and only one larger 175-room „Moxy" hotel has been built in Kaunas in the last few years. The city continues to invest in attraction centres and develop international business centres.
Project progress:
The owner of the project has used the funds raised in previous phases to install facade lighting, sewage systems, hot and cold water inlets for 10 rooms. He also paid for electricity, roof reconstruction, plastering and other works. The project owner will use the funds raised in this phase for the roof reconstruction works.
The maximum amount to be financed: EUR 1 100 000 (EUR 531 000 existing active portfolio). The project is financed on the basis of the current valuation of the collateral until it reaches the established maximum loan-to-value ratio of 75% LTV. Once the maximum LTV has been reached, a new valuation of the property will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded
Interest by investment amount:
– From EUR 100 to EUR 499 – 10.50%
– From EUR 500 to EUR 999 – 10.90%
– From EUR 1 000 to EUR 1 999 – 11.20%
– From EUR 2 000 to EUR 4 999 – 11.60%
– From EUR 5 000 – 12.00%
Important: Individual investments are not aggregated and cannot be combined.
We plan to raise the amount within 7 days, with the possibility of extending it to 21 days in the event of non-collection.
About the Profitus
Profitus is a crowdfunding and investment platform whose main goal is to make investment available to everyone. Investments start at 100 euros, and the platform is open 24/7. Investments are secured by pledging real estate and other collateral (e.g., indemnity or warranty). Different projects have different security tools that users can access in self-service for each project.
Profitus consults with the Bank of Lithuania in order to ensure perfect compliance with the law. Monetary operations on the platform are carried out in cooperation with Paysera and Trustly. The risk relating to the project and project owner are assessed on the basis of information provided by Creditinfo.
