Premia Properties strikes new deal in the hospitality sector

The agreement concerns the Akti Imperial, Akti Beach Club, and Akti Palace hotels, which together comprise 1,316 rooms. The properties are located in prime beachfront locations and have been operating successfully for more than 20 years. AKTI Group will continue to oversee the operational management of the hotels, leveraging its extensive experience in the hospitality sector.

The completion of the final agreement is expected by the end of 2026, while the total investment, including renovation and upgrade costs, is estimated to exceed €250 million.

The three hotels have a combined gross floor area of 85,000 square meters and are situated on land plots totaling approximately 300 stremmas (30 hectares). According to the development plan, the renovation and quality enhancement program is expected to be completed by May 2028.

The investment forms part of Premia’s strategy to strengthen its presence in the tourism and hospitality sector, which represents one of the key growth pillars of the company’s portfolio.

Elias Georgiadis, Chairman of Premia and Chief Executive Officer of Sterner Stenhus, stated that the transaction is part of the company’s growth strategy, with the objective of increasing Premia’s hotel portfolio to more than 4,500 rooms within the next two years.

For his part, Kostas Markazos, Chief Executive Officer of Premia, emphasized that the transaction continues the company’s strategy of capitalizing on investment opportunities in the hospitality sector, with the aim of enhancing profitability, strengthening its financial position, and further upgrading the quality of its portfolio.

Nikolaos Koutras, Chief Executive Officer of AKTI HOTELS Group, described the partnership as a significant development for Greek tourism, noting that the combination of Premia’s real estate expertise and AKTI Group’s extensive experience in hotel operations is expected to generate strong synergies and contribute to the development of modern, high-quality tourism infrastructure.

The agreement underscores the continued investment momentum in Greece’s tourism sector, with major groups committing substantial capital to upgrades and new developments in response to the steadily growing international demand for high-quality tourism products in the country.