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hospitality Market News: Greek Real Estate Intelligence

Intrakat acquired the Apanema Hotel in Mykonos
Intrakat acquired the Apanema Resort hotel in Mykonos, through the acquisition of 100% of the shares of its owner company, dynamically continuing its strategic positioning in the field of tourism development. Apanema Resort is a complex of 1,544 sq.m., on a plot of land with a total area of ​​2,743 sq.m. and is located in a privileged position in the Tagou area of ​​Mykonos Town, very close to the city center and the port. The acquisition of the hotel was made through the 100% subsidiary company "INTRA ESTATE SHOINOUSA MONOPROSPI AE", for a total price of €10.6 m. According to INTRAKAT's plan, the full reconstruction works of the complex will begin as soon as the required studies are completed, in the immediate future. The new high-end luxury boutique hotel will offer its guests a special holiday experience with an emphasis on high-quality luxury accommodation, gastronomy, and well-being. The acquisition strengthens INTRAKAT's presence in the Mykonos market, as the company's investment portfolio on the island includes the construction of 200-bed staff residences in Ano Mera, for which the licensing process is expected to begin soon. Original Source: Euro2day.gr Adaptation/Summary: Kiki Athanasiadis
Laskaridis family acquired the Elatos Resort in Arachova
Elatos resort & Health Club was added to the hotel chain controlled by the Laskaridis family, through the listed "Lampsa" and other companies. One of the group’s companies acquired the resort, which is located near Arachova a location that attracts winter tourism. Reportedly the price was considerably lower than the amount initially requested by the sellers and the negotiations lasted for many months. Elatos was owned by a company of shipowners Kerchikov, Hatzielethriadis and Karastamati, who decided to renovate and sell it. The complex ceased operations last March and will reopen after the renovation work is completed. The hotel unit is located on the north side of Parnassos, a short distance from the slopes of the ski resort. It consists of a central building and 45 wooden bungalows-chalets, extending over an area of ​​80 acres. All chalets include a living room with a fireplace, a dining room, a kitchenette, a bathroom and a private terrace with mountain views. Original Source: Sofokleousin.gr Adaptation/Summary: Kiki Athanasiadis
Sani/Ikos Group enters strategic partnership agreement with GIC valuing the business at €2.3bn
The Sani/Ikos Group, a leading hotel group in the Mediterranean, and GIC, a Singaporean sovereign fund and international institutional investor, entered a strategic partnership agreement, under which GIC becomes a major shareholder of the Group together with its management team. For this transaction, the value of the Sani/Ikos Group is estimated at €2.3 bn. The transaction is expected to be completed within the fourth quarter of 2022 and is subject to customary regulatory approvals. Under the management of its founders, Stavros Andreadis, Andreas Andreadis and Mathieu Guillemin, who remain major shareholders, the Sani/Ikos Group has evolved from the iconic Sani Resort in Halkidiki, founded by the Andreadis family, to the fastest growing and most successful hotel group, which operates privately owned luxury resorts throughout the Mediterranean. Since its inception in 2015, the Group has managed to quadruple its size and assets, backed by investment schemes including Oaktree Capital Management L.P. as well as Goldman Sachs Asset Management, Moonstone, Florac and Hermes GPE, which are transferring their stake to GIC, as part of this deal. Original Source: Voria.gr Adaptation/Summary: Kiki Athanasiadis