Elounda Blu, is a 4-star 183 room hotel located on the Greek island of Crete, in Elounda, a luxury destination in Greece.
Blackstone and HIP will invest over €6m to upgrade, transform and reposition the hotel to a 5-star internationally branded resort.
The plan includes the full refurbishment of the hotel, the development of new suites and a new pool area and restaurant, enhancing the property where more than 90% of rooms have sea views.
The hotel will continue to be operated by Ledra Hotels & Villas under an international 5-star flag post the transformation.
Alejandro Hernández-Puértolas, CEO and founding partner of HIP, said:
“We have been actively repositioning, investing and transforming our Greek hotel portfolio since our initial hotel acquisition in 2019. We are delighted to acquire Elounda Blu, growing our Greek hotel portfolio to six, and cementing our footprint in the Southern European and Greek tourist markets. This investment reaffirms our long-term confidence in Greece as a premier global tourist destination, as well as our commitment to supporting job creation and local growth.
Dr George Spanos, Vice President of Ledra Hotels & Villas, said:
“Ledra Hotels and Villas is focused on further growing the portfolio of Domes Resorts and exporting the brand outside Greece. This agreement followed by the capex investment and the addition of an international brand, will further enhance the Domes presence in the distinguished worldwide luxury destination of Elounda. Domes Resorts will continue with a mix of owned, managed, franchised and leased hotels. Today is a very important day, for Ledra Hotels and Villas and Domes Resorts”.
