Ikos Resorts expands Greece portfolio with buys in Corfu and Kos

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.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

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.

Suggested Articles

M3 has partnered with Avero, a restaurant revenue-management software company serving the food-and-beverage industry.

Wyndham is relaxing requirements for Wyndham Rewards members to achieve status for the rest of 2020.

This roundup features details on 15 new properties operating in the United States.