Hotel units changing hands
The year has seen a dynamic start in the purchase and sale of hotels, as well as the promotion of investment plans for the development of tourism complexes.
In many cases, the buyers and investors are groups of Greek interests, showing that concerns about an invasion of foreigners in the Greek hotel market, expressed by some quarters in previous years, were exaggerated. In fact, some of the sellers are foreign entities aiming to collect the capital gains of Greek tourism on their assets in the last five years, despite the pandemic.
Perhaps the most typical example of the last few days is a deal worth 74 million euros with which London and Regional sold Titania Hotel in Athens. The buyer is H Hotels, owned by the Hatzilazarou family, one of the largest hotel groups in the country in bed numbers.
A few days ago, the G Hotel Collection of the Papadakis family acquired from Eleni Lampiri the Roda Beach Resort & Spa in Corfu and the Serita Beach Hotel in Crete, which she had acquired from the late Kostas Mitsis for €84 million.
Kathimerini understands Brook Lane Capital will soon make a significant investment in Greek tourism by acquiring a hotel unit, and the Divani group also has an active investment interest in more hotels.
