Saturday October 25, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Foreign investment interest in Greek tourism gathering strength

By Stathis Kousounis

There is a clearly rising trend in the number of foreign and diaspora investors looking for opportunities in Greek tourism, with the latest confirmed opening coming from US fund Kohlberg Kravis Roberts (KKR), which has sent representatives to the country to assess the business environment.

As part of their visit, senior officials from KKR met with Tourism Minister Olga Kefalogianni to brief her on the company’s intention to invest in Greece. According to sources, the officials asked for assurances of continuing political stability in the crisis-wracked country, saying that it was a necessary prerequisite for their investment to proceed. The same fund, meanwhile, is looking into other markets that are in competition with Greece as a destination, such as Spain.

Expanding into Greek tourism also appears to be among the goals of international hotel groups such as Four Seasons Hotels and Resorts, whose shareholders include Saudi Prince Al-Waleed bin Talal, and Cascade Management, which is controlled by American tycoon Bill Gates.

The international group has expressed an interest in undertaking the management of 5-star hotels in Athens and the Peloponnese, while the possibility of it branching out into new investments has not been ruled out. It is worth noting that the Four Seasons portfolio contains 93 units in 38 countries. Prime Minister Antonis Samaras met with the prince recently and discussed investment opportunities in Greece.

On the diaspora front, businessman Petros Iliopoulos, who specializes in tourism investments, is planning an ambitious project on the outskirts of Sparta. The Greek-Canadian businessman has set his sights on a privately owned 27.7 hectare plot, where he plans to build a 5-star hotel with 271 beds and a conference center accommodating 500 people. The first phase of the investment is estimated to cost in excess of 20 million euros.

Meanwhile, a foreign fund in which Bulgarian entrepreneur Lukan Lukanov is a partner, is said to be planning a large investment on the northern Aegean of Thassos. The budget for the planned 5-star hotel has been estimated at 20 million euros. The hotel will have 348 beds, a spa, restaurants, stores and sports facilities, among other amenities.

ekathimerini.com , Wednesday August 13, 2014 (22:19)  
TAIPED waits for green light from Eurostat
Trade deficit shrinks on big drop in imports
SMEs unable to claim subsidies
Taxes kept growing in second quarter
Athens, Nicosia satisfied by EU leaders´ stance toward Ankara
A reference in Friday’s European Council conclusions calling on Turkey to respect Cyprus’s sovereign rights left Athens and Nicosia content with the outcome of the European Union leaders’ su...
Suspended policeman chief suspect in cousin’s murder
A 27-year-old police officer who has been suspended from duty since 2013 for extortion, is being treated as the chief suspect in a murder committed in a suburb of Piraeus on Thursday. Police...
Inside News
BASKETBALL
A win is a win is a win for Olympiakos
A bad Olympiakos defeated a worse Laboral Kutxa 63-57 to make it two out of two in the Euroleague on Friday. In a game where the two teams had an overall field goal rate of about one in thre...
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
Inside Sports
COMMENTARY
Tension for tension’s sake?
It is evident that Turkish President Recep Tayyip Erdogan feeds off tension. He would barely have achieved as much as he has – and prevailed – if he had not been so keen to confront a series...
EDITORIAL
Testing ground
The Regional Authority of Attica is a good testing ground for politicians who appear to thrive on accusations to prove whether they can actually solve major problems of a practical nature. T...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. A win is a win is a win for Olympiakos
2. TAIPED waits for green light from Eurostat
3. Trade deficit shrinks on big drop in imports
4. SMEs unable to claim subsidies
5. Taxes kept growing in second quarter
6. Thessaloniki Port expects 2014 to be record year
more news
Today
This Week
1. Woman killed in tram accident in Floisvo, south of Athens
2. Clocks to go back 1 hour on Sunday
3. Venizelos slams Turkey for 'flagrant violation of international law' off Cyprus
4. ECB vies for third time lucky in European stress tests
5. ECB bank assessment to show 6-billion-euro capital gap, Citi says
6. Cyprus GDP upgrade seen as boosting bailout exit plans
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Greece must stick to reforms, says Schaeuble
4. At least 11 banks to fail European stress tests, three in Greece, report says
5. Cyprus to block Turkey's EU talks after EEZ violation
6. Samaras’s crumbling Greek exit lacks backing from economists
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.