Shipowner George Prokopiou has obtained control of 10% of ‘Astir Palace Vouliagmeni.’
Investment interest in Greek tourism, in particular large luxury hotel complexes, is undiminished, if not increasing. This is evidenced by major agreements signed during 2025, as well as the increased presence of foreign hotel management chains.
Among the major deals, the acquisition of three hotels from Goldman Sachs Asset Management in Halkidiki by the Sani/Ikos group stands out. These are Athos Palace, Pallini Beach and Theophano Imperial, which the US investment firm had acquired four years ago. The three units will be reconstructed and consolidated into a complex named Ikos Kassandra and will become the first Ikos grand resort.
Shipowner George Prokopiou in February acquired the entire share capital of hotel group “Astir Palace Vouliagmeni” which operates under the Four Seasons brand. The new owner of the Four Seasons Astir Palace Hotel Athens has added the 67% stake held by Arab investment funds to the 33% he had obtained in 2024 from Turkish group Dogus.
A wave of acquisitions also occurred in the summer, headlined by Spanish investment company Azora acquiring 50.1% of Donkey Hotels from the existing shareholders, with the Ioannou family retaining 49.9%. Donkey Hotels’ portfolio includes the Athenaeum InterContinental Athens, the five-star NEW Hotel in Syntagma, the Semiramis in Kifissia, the Periscope in Kolonaki and the luxurious NOUS in Santorini.
Also in the summer, the American HIG Capital Advisors secured control of the Kipriotis Group’s hotel portfolio on Kos. That covers five properties with a total of 1,522 rooms and 4,500 beds: the five-star Kipriotis Panorama Hotel & Suites and Kipriotis Maris Suites, as well as four-star Kipriotis Panorama Aqualand, Kipriotis Hippocrates Hotel and Kipriotis Village.
Other large investment funds have expanded their position in Greece. One of them is Brook Lane Capital, which acquired the five-star Porto Bello Royal and the adjacent four-star Porto Bello Beach Resort in Kos in July.
Greek-owned Domes Resorts is also on a growth trajectory with new acquisitions and management agreements. Following the agreement with US investment fund Brookfield Asset Management, Domes also signed a leasing agreement with Aroundtown for the latter’s unit in Hania.
