Chandris steps up its hotel expansion strategy

The strategy includes the acquisition of a property in Milos, the development of a new hotel and the upgrading of its existing operations in Thessaloniki, as well as the selective repositioning of a real estate portfolio that extends to other Greek tourism destinations.

The company currently owns three hotels: the Athens Marriott Hotel in Palaio Faliro, with 366 rooms and suites; The Met Hotel in Thessaloniki, with has been operating since 2018 and currently comprises 42 suites and villas, 84 beds and 39 swimming pools. The Environmental Impact Assessment for its expansion was recently approved, providing for an additional 17 rooms and 34 beds, bringing the resort’s total capacity to 118 beds. The expansion will also include an indoor swimming pool and an extension of the related facilities and infrastructure 212 rooms; and the Chios Chandris Hotel in Chios, with 148 rooms.

The €17 Million Investment in Milos
The most significant new development is the agreement to acquire the shares of Milos Cove S.A. for €17 million, of which €3 million has already been paid as a deposit. According to the company, the transaction is expected to be completed in October 2026.

Milos Cove Inception Resort, located near Komia in Milos, has been operating since 2018 and currently comprises 42 suites and villas, 84 beds and 39 swimming pools. The Environmental Impact Assessment for its expansion was recently approved, providing for an additional 17 rooms and 34 beds, bringing the resort’s total capacity to 118 beds. The expansion will also include an indoor swimming pool and an extension of the related facilities and infrastructure.

New Hotel Cluster in Thessaloniki
The company plans to modernise its existing hotel while simultaneously developing a new five-star hotel with 97 rooms on properties co-owned with EVEK. A bond loan of up to €39.845 million has been approved for the investment plan, with financing provided through Greece’s Recovery and Resilience Facility and Alpha Bank.

The Met currently has 212 rooms and suites. The new 97-room hotel has the potential to create a 309-room hotel cluster in the same area — an investment that takes on additional significance in light of the broader transformation of the western entrance to Thessaloniki.

As part of the project, in April 2026 Chandris acquired an 85% undivided interest in a multi-storey building adjacent to The Met for €2.0825 million, with the total value of the property estimated at €2.45 million.