Seven major hotel deals took place in the third quarter of this year alone, according to GBR Consulting’s latest newsletter. More specifically:
Intrakat announced in October the acquisition of Apanema Resort in Mykonos for 10.6 million euros. The property, located 900 meters from Mykonos Town, has 17 rooms, but will be completely renovated and returned to the market as a high-end boutique hotel. Intrakat also has in its portfolio the boutique hotel Branco Mykonos, the Met34 and the Milos hotel in Athens. In addition, it is developing a 200-bed residential complex in the Ano Mera area.
Sani/Ikos Group and GIC announced in September that they have entered into a strategic partnership, under which GIC will become the majority shareholder. For this transaction, the value of the Sani/Ikos group is valued at 2.3 billion euros. The transaction is expected to close within the fourth quarter. The strategic alliance with GIC, as reported, will further enhance the required resources for the implementation of Sani/Ikos’ 5-year investment plan of more than 900 million euros.
At the end of October the Mitsis Hotels group announced that it is expanding in Halkidiki with the management of a new luxury 5* hotel resort. In particular, the group entered into a 20-year Property Management Agreement with the company Happy Holidays SA, with a horizon of completion and operation of the unit in 2025.
GBR Consulting also includes in its prospectus the acquisition by Goldman Sachs Asset Management of three hotels in Halkidiki. These are the five-star unit Theophano Imperial Palace Hotel, and the four-star units Athos Palace and Pallini Beach, interests of the Grigoriadis family (G Hotels).
Last month it was announced that the 4-star Elatos Resort & Health Club was sold by Elatos Investment Ltd, the interests of the Eletson shipping company, to Athanasios Laskaridis, the main shareholder of the LAMPSA group. Elatos Resort consists of 40 chalets in Parnassos, 35 minutes from Parnassos Ski Center (Kelaria). The resort is expected to reopen in 2024.
At the beginning of August, the Sheraton in Rhodes, with 401 rooms, was sold by LAMPSA to Azora European Hotel & Lodging F.C.R for 43.8 million euros. This is the first hotel in Greece acquired by Azora, which is based in Madrid.
Finally, in June the Grande Mare in Corfu was sold at auction for €5.89 million after several attempts. The property is located in Benitses. It is a property, which includes 16 self-contained and independent horizontal properties, which have been erected on a plot of land with a total area of 22,000 sq.m. and which make up a hotel complex.
The hotel, which was reconstructed in 2002 and completely renovated in 2014, has a capacity of 96 rooms and is approximately 12 kilometers from the city of Corfu. As pointed out in the appraisal report, it consists of 4 room buildings and 1 reception building, all of which are oriented east to “see” the sea while following the slope of the land.