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hospitality Market News: Greek Real Estate Intelligence

Intracom sells Kalo Livadi in Mykonos to Amicross for €28.5
Intracom announced the binding agreement of the subsidiary of the real estate company Intradevelopment for the sale of Devenetco, which owns a hotel and villas under development in "Kalo Livadi" of Mykonos. The luxury resort is being built on an area of ​​100 sqkm in a joint venture with London Regional Properties, and it is an investment of approximately €100 m. The complex has 75 suites, two restaurants, a spa and 12 villas for rent or sale with private access to a small beach. Original Source: eRed.gr Adaptation/Summary: Kiki Athanasiadis
 
Lindian Village in Rhodes sold for over €27 m
The emblematic Lindian Village hotel in Rhodes was sold for over 27 m. The seller is the Svyriadis family and the buyer is Zetland Capital, a private equity firm based in London. A preliminary contract has been drawn up, a significant part of the price has been paid in advance and the transfer will be completed by the beginning of 2022. Zetland Capital, led by a group of shareholders and executives led by Ahmed Hamdani and in which the Greek Stratis Limnios has a stake, is showing a growing interest in investing in hotels. They have recently acquired a hotel in Portugal and another one in Ireland and are discussing the acquisition of eleven hotels in Spain. The hotel management will be taken over by a well-known Greek company in the region that has a significant hotel portfolio across Greece and a strong management team. Original Source: Ered.gr Adaptation/Summary: Kiki Athanasiadis
 
New hotel to be built in Larnaca
Larnaca seems to be attracting new investments in tourism development with another upscale hotel project destined on the seafront near the airport. S&H Parayialia Estates Ltd announced plans to construct a four-star hotel near Larnaca’s salt lake on the Dromolaxia Meneou road. The Parayialia Hotel resort will have a capacity of 196 rooms. It is situated 2 km from Larnaca International Airport, bordering the salt lake, declared by the European Union as a Site of Community Importance and a Special Conservation Zone. Original Source: Philenews.com Adaptation/Summary: Kiki Athanasiadis