In a major move, the Nikos Daskalantonakis-Grecotel Group in Greece has acquired five Resort hotel units, in Mykonos and Corfu with a total capacity of 1,800 beds, investing 61 million euros, according to an announcement issued.
The deal was sealed after months of negotiations that include 3 separate transactions. An additional 43m euros will be allocated for the expansion of hotels and real estate, as reported.
“This business move reflects our confidence in the investment environment of our country”, said N. Daskalantonakis, president and founder of the group.
The hotels acquired are Mykonos Star and Mykonos Thea in Agios Sostis, Mykonos and Nostos, Vassilia, Gelina, and the Aqua Park Hydropolis in Corfu. The hotel units are operational and their addition is expected to create 1,000 new jobs.
The acquisitions were made in the framework of the Group’s investment program, which also includes significant renovations and new hotel products Lifestyle and Luxury Resorts in Crete, Kos, and Corfu. The program has been underway since October 2020.
In Corfu, the new hotels will be part of a larger beachfront resort of 350,000 sq.m. under the name Grecotel Costa Botanica.