No lack of luxury accommodation investment

No lack of luxury accommodation investment

Major international players in the hotel market, foreign tour operators’ hotel chains and global luxury hotel networks are expanding their presence in Greece.

Some of Europe’s biggest tour operators, including TUI, Der Touristik and Thomas Cook, have already decided to strengthen their position in the local hotel market ahead of next season.

TUI’s Robinson chain will secure its presence in the Peloponnese next year, having taken over the operation of the Kyllini Beach Hotel, with a capacity of 317 rooms.

Der Touristik, which this year started operating the five-star LTI Asterias Beach Resort at Afandou on the Dodecanese island of Rhodes after signing a long-term lease agreement, is examining the idea of leasing at least two more units it cooperates with in Greece to bolster its position in the country.

In 2016, Thomas Cook will launch the first unit in its Casa Cook concept hotel portfolio in Greece. The SunPrime White Pearl Resort at Kolymbia on Rhodes has 90 rooms.

A number of international hotel chains have agreed or are currently negotiating cooperations to obtain a share in the Greek tourism market. Four Seasons Hotels and Resorts has signed a preliminary agreement to undertake the management of a hotel that a group of Greek and foreign investors are planning to construct on Myconos, in the Cyclades group of islands.

Dolphin Capital Investors is planning the creation of a tourism resort complex on Kea (Tzia), also in the Cyclades, with hotel chain Aman undertaking its management.

Having already established an international presence in the hotel market, the Libra Group’s Grace Hotels Group is proceeding with the construction of two luxury hotel units at Messinia in the southwestern Peloponnese, and on Kea.

The international Carlson Rezidor Hotel Group will take over the Minos Imperial Luxury Beach Resort and Spa at Lasithi on Crete next season in a franchise agreement that will see it renamed the Radisson Blu Beach Resort, while an investment program worth 8.5 million euros is under way. The Carlson Rezidor Hotel Group, with a portfolio of 1,370 units in 110 countries around the world, first came to Greece in 2012 when it activated a franchise agreement for the Radisson Blu Park Hotel on Alexandras Avenue in Athens.

Intercontinental is planning to operate a new hotel on the Cycladic island of Santorini. The unit will be built by Athineon SA, which also owns the building that houses the Intercontinental Athenaeum in the Greek capital. The budget of that investment amounts to 30 million euros.

The Marriott group has returned to Greece, adding to its Autograph Collection the Domes of Elounda unit in southern Crete, where 10 million euros has been invested in improvements, while maintaining its interest in the Athens market.

Movenpick Hotels and Resorts, an international company that manages luxurious units, has been in contact with Asty SA, owner of the Athens Ledra Hotel, for some months now, discussing the possibility of undertaking the latter’s operation.

Small Luxury Hotels of the World, an international network of independent units, has announced the incorporation of the Sesa Boutique Hotel at Kanali near Preveza, northwestern Greece.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.