A new company called Astir Services and Development, which will support the business development part of the group, has been established by Apollo Investment Holdco, a shareholder of Astera Vouliagmeni.

The new company’s scope will include the provision of consulting and support services as well as the management, development and exploitation of properties, with the board of directors consisting of the members of the board of Astir Palace Vouliagmeni, representatives of the Arab-Turkish investment group of the iconic Vouliagmeni complex.

The President of the new company is Mr. Abu Suud Walid, as in Astir Palace, while the role of Vice President and Managing Director is held by Mrs. Penny Zaglaridou. Mr. Paris Kasidokostas is also a member of the board of directors, as in Astir Palace.

The new company will essentially operate in support of the three main activities/companies of the group the hotel, the marina and the beach through Astir Palace, Astir Beach and Astir Marina, while it will also support further operational development for any new projects.

At the same time, the luxury complex of Vouliagmeni has already started the summer season with high bookings, with a further increase, according to reports, compared to last year, which also moved with high numbers.

It is recalled here that accommodation revenue in 2023 increased to 76.63 million euros, up from 65.41 million euros in 2022, while the revenue of the catering departments increased to 33.93 million euros, compared to 29.37 million euros in 2022.

Accommodation and food service department revenues were boosted last year due to the high tourist flow, resulting in a remarkable 9.1% increase in occupancy rates compared to 2022. For this year, significant momentum is seen in the hospitality segment, boosted by the high numbers already recorded for the Greek capital since the beginning of 2024.

At the same time, the utilisation of the events on the occasion of the “Posidonia” in combination with the reconfiguration of the shops in the catering sector is estimated to further enhance the financial performance of the complex this year.

Expectations are also high from the operation of the new marina, which was officially inaugurated a few days ago and officially opened its gates on May 29, adding, according to its contributors, another new chapter in the Athenian Riviera for the attraction of luxury tourism.

See Also 

Tax Returns: How to Submit Declarations from Wages and Pensions

Astir Marina Vouliagmenis, apart from being a boat docking facility, is now a luxury shopping destination for both marina users and the public outside, featuring well-known fashion names, such as Louis Vuitton, Loro Piana, Dior, Gucci, Bottega Veneta, Saint Laurent, Zegna, Rolex, Dolce & Gabbana Casa, Off-White, Orlebar Brown, Zeus+Dione, Polo Ralph Lauren, Golden Goose, Dyson, Alós Eyewear and Karkalis have acquired their own store in the onshore areas.

On the service and other activities side are Revithis Real Estate, EKKA Yachts Sanlorenzo Lounge and Ipirotissa for the refuelling of the yachts, while the well-known pasticceria Cova Astir Marina serves as a meeting point and the arrival of Bagatelle Astir Marina is expected in the near future, which will be added to the dining areas for visitors.