The total contract price amounted to €4 million, paid in a lump sum, and the tender process was conducted in a single phase.

This marks the family’s second major tourism investment, following their restoration and reopening of the historic Xenia Hotel in Chios.

The property will comprise 121 elegantly appointed rooms and suites, along with branded residences housed within 13 exclusive villas.

According to INSETE data, the first three quarters of the year closed with an increase in the number of accommodations.

The new formula for value.

The total investment, including renovation costs, amounts to €73 million.