Sani Resort SA and Ikos Resorts SA, both active in Halkidiki, northern Greece, announced their merger on Thursday.
The main stakeholders are Stavros and Andreas Andreadis and the investment funds will be managed by Oaktree Capital Management.
Participants also include Goldman Sachs Asset Management and Hermes GPE.
The plan concerns the strengthening of the hotel brands and the expansion of their investment activities in tourism.
Sources say the deal provides for an investment plan totaling up to 200 million euros in five years that will create up to 1,000 jobs.