BUSINESS

Mitsis Hotels expands further

mitsis-hotels-expands-further

The Mitsis group has set in motion an investment plan for increasing the number of its hotel capacity from 5,500 to 6,500 rooms, which would render it the biggest hotel entity in Greece in terms of both rooms and beds.

The group has applied to Enterprise Greece to have the development of three units on Mykonos fast-tracked as a strategic investment. This is a project for new five-star hotels with a total capacity of 225 rooms and 450 beds on the Cyclades island.

It is also in advanced talks with M.A. Angeliades Inc, which is about to complete the acquisition of a 1.4-square kilometer plot at Afantou on Rhodes from the state privatization fund (TAIPED). The deal with Angeliades, expected to be sealed in the next few weeks, provides for the development of another three hotels there.

The Mitsis group currently has 17 hotels in Greece, located in Athens, Crete, Kos, Rhodes and Kamena Vourla. Five of them are on Kos and another five on Rhodes, which will soon rise to eight.

However, Kathimerini understands that the Mitsis plans are not restricted to those six new units, but also provide for the acquisition or development of more hotels, some of which might be abroad.