Plenty of action in the hotel business sector

Greece’s hotel sector is presently witnessing plenty of action in terms of new acquisitions and the opening of luxury units, with the involvement of domestic firms as well as companies from the US, Russia, Germany and Cyprus.

The next few days will see the completion of the buyout of a hotel at Nea Potidea in Halkidiki, central Macedonia, by Russian entrepreneurs, and the acquisition of a hotel unit by a Greek firm at Iraklio on Crete. Furthermore, a company controlled by a US-Greek investment fund on Friday opened a new hotel in Halkidiki, while a Cypriot enterprise has in recent days started operating a new hotel unit on Rhodes that has been leased on a long-term basis by a German tour operator.

Sources say the completion of Potidea Palace’s transfer from the Mouzenidis Group to Russian entrepreneurs Artem Chayka and Olga Lopatina is a matter of days, with the Russians interested in making further investments in Greece.

Greek group Vita Hotels looks set to take its hotel tally to five with the acquisition of a unit in Iraklio, after recently leasing Elounda Aqua Sol for at least 15 years.

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