From Space to Hospitality: Terra Spatium invests €18M in Skiathos

The company is promoting an €18 million investment for the development of a five-star hotel in the Platanias–Agia Paraskevi area, with the project currently undergoing the environmental licensing process.

The hotel will be developed on two adjacent plots of 11,773.93 sq.m. and 10,276.30 sq.m., with a combined area of approximately 22,000 sq.m. The site is located close to the beach and is accessible via the Skiathos–Koukounaries road. The development will comprise 100 rooms and 230 beds and is expected to operate seasonally, from 15 May to 15 October. Terra Spatium itself is identified in the Environmental Impact Assessment as both the owner and the project developer.

The design calls for low-rise, single- and two-storey buildings, with the aim of creating a development that resembles a small settlement. Additional accommodation units are planned closer to the coastline, together with dining areas, bars, a sushi bar, a 182 sq.m. main swimming pool and 16 smaller private pools with a combined area of 234 sq.m.

Of the total €18 million budget, approximately €10 million will be allocated to buildings and equipment, while around €8 million will cover landscaping and earthworks. Once the required permits have been obtained, the construction period is estimated at approximately 18 months.

Who is behind Terra Spatium

Terra Spatium, formerly a subsidiary of the ATESE Group and based in Koropi, operates in the fields of geoinformatics, remote sensing, space applications, communications, software development, and defence and security.

The company has more than 30 years of experience participating in national and European research programmes, including projects undertaken by the European Space Agency. It has also undertaken industrial support for the Greek ground segment of the HELIOS-II satellite system and is expanding into areas such as satellite communications, unmanned vehicles and IoT applications.

Skiathos adds new projects

The investment forms part of a broader cycle of hotel developments in Skiathos, with the largest projects focusing on the high-end hospitality segment.

The largest project is that of ELIVI Hotels in Koukounaries. The official Strategic Investments database of the Ministry of Development reports an investment of €52 million for a new five-star resort comprising 267 rooms and 534 beds, on a total area of 129,584 sq.m.

A new hotel development is also being promoted in Troulos, where an existing building permit was amended in August 2026 to allow the conversion of office and retail buildings into a hotel. The property has an area of 4,195 sq.m., with approximately 647 sq.m. of planned building area and 15 parking spaces.

Investments aimed at upgrading the existing hotel stock include Atrium Hotel Skiathos, where ELPAR, part of the Gellasakis Group, has completed a €2.2 million investment programme to modernise the five-star hotel.