Office plans a new acquisition in Northern Greece

Another hotel unit in Northern Greece is planned to be acquired by the Comer group, which controls our country for a total of five. hotels. The Irish group of brothers Comer, with a strong presence in Real Estate, has expanded in recent years in the hotel sector by acquiring the Club Hotel Casino Loutraki and in 2022 two more hotels in Loutraki, the Wyndham Loutraki Poseidon Resort (146 rooms) and the Ramada Loutraki Poseidon Resort (157 rooms) in the same area.

Prior to these investments, Comer Group acquired through auction the Mabely grand Hotel in Kambi, which was Comer Goup’s first investment in Greece, in 2019. The renamed Comer Ionian Palace is expected to open this summer -heat.

After 2019 the Comer group negotiated and obtained the full bank loan of the Loutraki casino and in June 2020 negotiated with the previous shareholders and acquired 94% of the Club Hotel Loutraki managing company.

At the beginning of 2022, the Comer group acquired two hotels, Ramada by Wyndham Loutraki Poseidon Resort and Wyndham Loutraki Poseidon Resort, from the Argyrou family, paying the loans and part of the two hotels, about 15 million euros.

The four-star hotel Kinetta Beach, Resort and Spa was also recently acquired by the Comer group and is located next to the sandy beach of Kinetta.

As far as Loutraki Casino is concerned, the decision of the Multi-member Court of First Instance of Corinth is awaited, for the inclusion of the Casino in the Bankruptcy Law and the consolidation of the company.

While waiting for the decision, the way to convert the Consortium into a SA was opened, with the municipality to separate from an anachronistic and dysfunctional joint venture agreement.

According to the sales manager of ComerHotels, Mr. Yannis Tsekouras, the Irish group of Comer brothers wants to strengthen its presence in our country because it considers that Greece presents opportunities in the hotel sector and announced an agreement for the acquisition of another hotel in Northern Greece.

However, the main headquarters of the Comer Group in Greece are the two Ramada by Wyndham Loutraki Poseidon Resort and Wyndham Loutraki Poseidon Resort hotels, where the group has so far invested more than 5 million euros in renovation works. fix without closing for a day.

Speaking about the two hotels, their director Pavlos Panagiotopoulos noted that both show a 25% increase in sales in 2023 compared to a year ago, while in general the group in Greece is running in previous years with a growth of 40% on an annual basis.

As far as the occupancy rates are concerned, they operate at a particularly satisfactory level of more than 80%, while the goal is that the two hotels will extend their hours of operation to more than ten months, from the end of February to Christmas .

Indian wedding

At this time the hotels accommodated many French visitors who historically showed a preference for the Loutraki area.

However, next week the hotel will host exclusively Indians because the unit will host a wedding of an Indian woman with a Greek man and all the rooms are already booked. .

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