Private Equity | Hotels | Aegean islands | Peloponnese

Grecotel buys five hotels in Mykonos and Corfu

Five hotel units, with a total capacity of 1,800 beds in Mykonos and Corfu, were bought by Grecotel. The total the investment amounted to 61 million euros, while an additional 43 million euros will be allocated for the upgrade of hotels and villas for sale.

RE+D magazine

05.04.2021

The total investment amounted to 61 million euros.

Specifically, Grecotel proceeded with the purchase of the hotels Mykonos Star and Mykonos Thea in Agios Sostis in Mykonos and Nostos, Vassilia, Gelina Village and Aqua Park Hydropolis in Corfu. Acquisition agreements include 3 separate transactions.

The acquisitions were made as part of the Group 's investment program in operating hotel units which it then upgrades to Luxury Resorts in Crete, Kos and Corfu.

The program is in progress since October 2020.

In Corfu, the hotels Gelina Village Resort, Corfu Nostos Mare Hotel, Basilia Hotel and Hydropolis Waterpark with a total of 1700 beds belong to the Gelina resort complex located in the area of Acharavi and will join the Resort Costa Botanica of Grecotel, located in the same area.

Acharavi, Located 25 km from the international airport and very close to the Antinioti lagoon which is one of the most impressive landscapes in Corfu, with a diverse ecosystem that hosts over 90 species of migratory birds, rare turtles, the unique Corfiot otters, sand dunes with lilies, and wild orchids. For this reason, Grecotel has been in contact with the owner company since 2017

Mykonos Star has 21 independent suites and Villa Mykonos Thea 4 more.

In Mykonos, the company owns the 5* MYKONOS BLU, located on the beach of PSAROU.