PHĀEA and Hotel Investment Partners enter strategic collaboration

Hotel Investment Partners (HIP) is a long-term institutional investor in the hospitality sector and one of the leading resort owners in Southern Europe, with capital sourced from Blackstone and GIC. Its portfolio currently includes 68 hotels totaling more than 21,000 rooms across Spain, Greece, Italy, and Portugal.

Under the terms of the agreement, HIP will acquire Cretan Malia S.A., while PHĀEA will retain long-term management of the hotel, ensuring the brand’s successful trajectory and its distinctive approach—which blends authentic local experiences with high-end sustainable tourism—continues seamlessly.

According to the announcement, this transaction represents the first step in a broader strategic partnership between HIP and PHĀEA. The collaboration aims to create synergies between HIP’s institutional investment strength and asset management expertise and PHĀEA’s deep knowledge of the Greek hospitality market, which has positioned the brand as a leader in sustainable luxury.

Konstantza Smbokou-Konstantakopoulou, Chairperson of PHĀEA, stated:
“Through the sale and long-term management agreement of Phāea Cretan Malia, we are taking a significant step in expanding the PHĀEA brand through the management of luxury hotels in Greece and the wider region. This collaboration reflects strong confidence in both the Greek economy and its tourism offering, as well as in the growth potential of the PHĀEA brand.”

Agapi Smbokou, CEO of PHĀEA, added:
“For us at PHĀEA, this agreement represents a major milestone aligned with our vision of operating hotels that showcase a ‘more authentic, timeless Greece,’ creating long-term value for shareholders, guests, and our employees. The deal marks both the success of our business model and the foundation for the future growth of our brand.”