Ikos Resorts expands in Spain
Ikos Resorts is in advanced negotiations to acquire two hotel properties from multinational group Hoteles Playa, which will be its third complex in Spain.
The Greek hotel group which, like Sani Resort, was founded by the Andreas and Stavros Andreadis family, is interested in acquiring these two units from Grupo Hoteles Playa with the aim of turning them into the group’s second 5-star resort on the Costa del Sol, after the award-winning Ikos Andalusia, and the third in Spain.
Once the deal is completed, which according to information provides that Hoteles Playa will remain with a minority package of shares in the scheme, the Sani/Ikos Group will carry out a total renovation of the facilities. The new resort will have 420 rooms, to be built in two phases, and will include suites with terraces and private pools.
The luxury resort is expected to join the chain’s Spanish portfolio which already includes Ikos Porto Petro in Majorca and Ikos Andalusia on the Costa del Sol, which will open this year with new extensions and a new collection of villas.
The majority of the share capital of Sani/Ikos, which already has 14 hotels in operation or under development, has been controlled by Singapore’s sovereign wealth fund GIC, while the Sani/Ikos Group was valued at 2.3 billion euros when the agreement was made.
GIC acquired the stake held by Oaktree Capital Management, Goldman Sachs Asset Management, Moonstone, Florac and Hermes GPE. The Andreadis family remains among the group’s shareholders, while management continues to be exercised, as managing directors and co-managing partners, by Andreas Andreadis and Mathieu Guillemin with Stavros Andreadis as honorary president of the group.
In Greece, the group operates five hotels in Halkidiki under the Sani brand, while under the Ikos brand, it has two in Halkidiki, one in Kos and two in Corfu. It is also developing a new hotel in Hania, which is expected to open its doors in 2025. On the Iberian Peninsula it operates under the Ikos brand, with a hotel on the Costa del Sol and one in Majorca, while in 2026 its unit in Portugal will open.
