Ikos Resorts' investment fund is expanding its existing partnership with the Chandris Group after purchasing two units owned by the company in Kerkyra, Greece. The purchase was made with the goal of creating a combined tourist unit consisting of 410 rooms.
Oaktree Capital Management, Goldman Sachs Asset Management, Hermes GPE and businessmen S. and A Adreadis were all participants in the deal, which cost an estimated $116.8 million.
The two Chandris properties purchased by Ikos Resorts are the Corfu Chandris Hotel & Villas and the Dassia Chandris Hotel & Spa. Both are located in the Dasia area outside the city of Kerkyra (also known as Corfu), and are roughly seven miles from an international airport.
The Corfu Chandris Hotel & Villas is located in Dassia, and has event facilities for up to 400 guests. Dassia Chandris Hotel & Spa recently opened the new C Spa, and is 10 minutes away from a traditional Venetian town.
Other recent acquisitions at the hands of Ikos Resorts include the Club Med Kefalos hotel, which sat closed on the island of Kos. Ikos has plans to fully renovate the hotel, and will rebrand the property as the Ikos Kefalos. The new property will have 410 rooms, suites and bungalows, and will open in spring 2019. A total of $95 million will be invested into the property.