20 Apr 2026
Santorini’s 5-Star Radisson Blu Zaffron Resort changes ownership
- RE+D Magazine
Fais Holdings S.A. has entered into a binding agreement for the sale of 100% of the share capital of its subsidiary, “L.S. Santorini Kamari Hotel S.A.”, to a joint investment vehicle comprising four funds managed by Extendam, headquartered in Paris, in partnership with Redcliffe Capital, based in London.
According to the relevant announcement, the total consideration for the transaction amounts to €28.3 million, of which approximately €16.8 million relates to the assumption by the investors of the subsidiary’s outstanding loans and other liabilities. The transaction is expected to have a positive impact on the Group’s consolidated financial results, generating an estimated gain of approximately €5.5 million.
Fais Group assumed management of the luxury Radisson Blu Zaffron Resort in Santorini in 2022 and had initially invested approximately €20 million in the development of the resort, which opened during the 2021–2022 period.
The adults-only resort, operating under the Radisson Blu umbrella, is developed across four adjacent plots and comprises 103 luxury rooms, suites, and villas. The hotel operates under the Radisson brand, while its management in recent years has been undertaken by the Mitsis Group.
In April 2025, the Group proceeded with the acquisition of the minority stake in its subsidiary, L.S. Santorini Kamari Hotel S.A., the owner of the Zaffron Resort, for a consideration of €628,125.
Completion of the transaction is subject to the fulfillment of customary conditions precedent typically applicable to agreements of this nature.
As stated by the Group, the agreement forms part of its broader strategic plan to further focus on its core business activities and to gradually divest from non-core sectors.