The Company operates the hotel complex in Vouliagmeni, which includes two hotel units with 303 rooms and bungalows, along with luxury restaurants, conference rooms, and event spaces.
According to available information, the market encompasses not only the "Astir Palace Vouliagmeni," which operates the Four Seasons Astir Palace Hotel Athens, but also the companies managing the marina and the beach, namely "Astir Marina Vouliagmeni" and "Astir Beach S.A.," which were acquired by Apollo Investment in two separate transactions in 2022 and 2023, respectively.
The shipowner, one of the largest investors in the Greek real estate market, completed the acquisition in October 2024 of a 33.75% stake held by the Turkish group Dogus in Apollo Investment Holdco SA for approximately €150 million.
The Astir Vouliagmeni is one of the most iconic hotel complexes in the country, and its sale will mark one of the largest private transactions in the hospitality sector in Greece.
In 2016, through a tender by the National Bank of Greece and the Hellenic Republic Asset Development Fund (HRADF), Apollo Investment Holdco S.A. of Jermyn Street Real Estate Fund IV LP acquired the property for €440 million, with the total investment, including the development plan committed by the investor, estimated to exceed €650 million. The plan involved extensive renovations of the two hotel units, the upgrade of Astir Marina and Astir Beach, the development of up to 13 high-standard villas, and the creation of Peninsula Park.
Additionally, in 2017, a management agreement was signed with Four Seasons Hotels and Resorts for a 20-year period, starting from the reopening of the hotel (March 2019), with the possibility of further renewal by Four Seasons.
