TOURISM PROPERTY

Investors show interest in hospitality industry

investors-show-interest-in-hospitality-industry

In spite of the uncertainty in the tourism market due to the pandemic, foreign and domestic investors are assessing opportunities in the local hotel market, believing that the timing favors more attractive prices.

There are at least five deals in the pipeline, while there is also quite a bit of action at the hotel management level, with new agreements between asset owners and major foreign hotel chains.

The tender for the Out of the Blue Capsis Elite Resort at Agia Pelagia on Crete is about to be proclaimed, as the unit was put under special administration last year and its sale process will have to be completed within this year.