Mitsis group launches €80M investment in Rhodes
Mitsis group launches €80M investment in Rhodes
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Mitsis group launches €80M investment in Rhodes

Repositioning of the hotel on the market with a horizon of 2026.
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RE+D magazine
29.10.2024

Mitsis Group's renovation of the historic Mitsis Grand Hotel in Rhodes has begun, an €80 million investment that marks the group's largest development project on the island.

According to the group, the total reconstruction of the Mitsis Grand Hotel, which will begin in the autumn of 2024 and open its doors to the public in 2026, will transform the hotel into a luxury destination, 12-month operation, while maintaining its historical identity and at the same time strengthening its position in the high-end tourism market. More specifically, the project plans include:

• Complete renovation of the hotel's rooms and suites.

• Construction of private houses for rent and sale.

• Creation of a Food Hall with over 10 food departments of international and Greek cuisine.

• Development of a luxury shopping center with multiple stores.

• Creation of art spaces in collaboration with international galleries.

• Creation of traditional arts workshops.

• Sports facilities, including a 1,000 m2 gymnasium, tennis and padel courts.

• Modern wellness facilities with the creation of a 1,000 sq.m. spa.

• Multiple choices of venues for social and cultural events.

"The Mitsis Grand Hotel project is one of the most important strategic investments in the history of our Group and a reference point for the further development of Rhodes as a leading tourist destination. Our goal is to highlight the hotel as an iconic destination, promoting culture, sustainable development and the well-being of the local community," says Stavros Mitsis, CEO of the Group.

“We are proud to once again partner with the Mitsis Group, this time to renovate a historically significant hotel project that aims to attract high-end visitors and revitalize the local community. We look forward to seeing its development over the coming months,” noted Nick Carrier, Principal of WATG.

"Our innovative, highly thoughtful approach and dedication to creating unique, luxurious experiences is perfectly aligned with the Mitsis Group's vision for the redevelopment of the Mitsis Grand Hotel and its cultural impact on the island of Rhodes," said Libby Bull, Senior Designer & Vice President of ROAM.


The next projects

The Mitsis Group has planned a series of investment projects for the period 2024-2028, exceeding 250 million euros, with the renovation of the historic Mitsis Grand Hotel being the flagship project in Rhodes Town. The investment plan includes the creation of new hotel units, the complete renovation of existing hotels, as well as the management of additional hotels in important Greek destinations, such as Rhodes, Halkidiki and Athens. These moves will further strengthen the Group's footprint across the country.