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Mr. David Hunter, Managing Director Pelagia Residential and Touristic SA of Braemore Group talks to TravelDailyNews International about the launch of a new hotel in Kefalonia, Greece by Braemore and gives his insight for the property market in the Mediterranean region especially for Greece, Croatia and Turkey.
TravelDailyNews: Why did you take the decision to open a hotel in Kefalonia? Can you describe the concept behind this new venture of your company?
David Hunter: Kefalonia is simply stunning; it has some of the best beaches in SE Europe, great sailing, diving, dramatic scenery, great food and even better wine. I love the island for its simplicity it’s hasn’t been ruined by developments and it’s just magical to be there. A big decision when choosing an investment of this size is access and the market. We actually believe there to be a shortage of top quality hotels on the island and certainly there are none in our actual neighborhood. We came across the most amazing piece of land very close to Myrtos beach which is the most famous beach on the island if not in all of Greece. Everyone knows it from the film at book Captain Corelli’s mandolin. Kefalonia has one great draw, direct access! Many airlines fly direct from the UK and the Scandinavian airlines also as of this year. It’s an island that people love and its one that people are confident of recommending which for me says a lot.
The concept is what everyone wants to see; we have taken into account the surroundings and the architecture that has influenced the area over the years. Our vision is to create a village of Tuscan feel that looks as though it always existed there. We chose Dr Demetri Porphyrios to create the scheme and the properties. He is simply the best in the world for classical architecture. We fell in love with the village of Pitousa that he created on Spetses together with J and P.
Our properties vary from 2 bed to 4 bed villas. The core hotel will have 50 rooms predominantly suites and the other inventory will be 1 bed rooms or apartments and villas from 2 to 4 beds with private pools. There will be a village square offering local delicacy’s of wine and olive oil. Together with a top restaurant created and run by our friends Nick Maounis and Effie Gialoussis who are behind the very trendy Ginger restaurants and bars in Athens. Property owners will benefit from the management and rental share that we will provide together with the hotel.
We want to take the service level higher on the island and offer top luxury in an ambient classical atmosphere. Our land is full of beautiful old olive trees which we will keep and use to continue the feel of nature and health.
TDN: What is your opinion as far as the spa industry on the island in concerned? Do you feel that this hotel will add more value in the services and products already offered by the hotel sector on the island and how?
D. H.: I don’t think there is a spa industry on the island it’s missing that’s why we want to create one. I think the island would be more popular for short breaks in particular with Athenians in need of an escape from hectic Athens. The natural beauty of the island is the best so we want to match that with physical beauty in our hotel and spa. We are in the process of developing the concept for the spa but we do know it will be predominantly therapies from the east in a setting designed by Dr Porphyrios which I just can’t wait to see. We aim to set new standards on the island and to attract a different kind of tourist, well healed, people who want to escape and recharge!
TDN: As Braemore has placed environmental issues in the company’s agenda, what kind of environmental innovations are going to be introduced in this new establishment?
D. H.: Concern for the environment is a priority for Braemore and we always work with natural materials where we can. You can create properties just by the aligning them to use nature in a way to make your property very economical. Our land is sloping and there is a natural breeze which will allow us to create properties which pretty much cool themselves through natural airflow in the hot summers. This is a simple technique which is ancient but now mostly forgotten. The other impact which many forget is the visual impact developments have on an area. Most top tourist destinations are ruined by cheap and ugly looking buildings. Ours will become an attraction in itself as have all of Dr Porphyrios works over the years.
TDN: Why did you choose to partner with Small Luxury Hotels of the World?
D. H.: If you go and stay in one of there hotels you will know why. Its all about service and attention to detail, which they simply understand and deliver without fail. We have a great relationship with SLH and we can’t wait to open with them. By choosing to work with leading market professionals we know when the doors open that the hotel will work effectively and customers will come back! Repeat business is priceless and that’s what SLH does! SLH offer intimacy they make a client feel special and they work on an ethic which differs from the number crunching chains out there. This is how we like to be treated so this is what we are delivering. One other main factor is im sure all of Braemore and their families will be coming here for holidays and we want the SLH pampering.
TDN: What are your estimations for the property market in the Mediterranean for 2008 and especially for the markets that you work with?
D. H.: Interesting one. Well I think that the mature and saturated markets are going to suffer. In particular southern Spain it’s a very simple reason, over supply! I always look for markets that have not only interest from outside investors but true local interest also. This is why Greece is an attractive investment for me, Greeks love the islands and many are buying 2nd if not third homes for holiday homes and as investments.
Croatia is a jewel it’s a market people have talked of for years and rightly so, it has always been a top tourist destination popular with many nationalities. It’s accessible to most of Europe, a short Ferry for the Italians a drive for most of mainland Europe and it’s a sailing haven. Croatia will see steady growth simply on demand, don’t expect property to be cheap, its not it’s very in fashion and has a sustainable top end tourist market to cope. Some city markets are of interest; I would look at Ljubljana in Slovenia, with its Austro Hungarian feel and architecture it is now an interesting weekend break for many and should experience similar growth traits to that of Prague.
TDN: Which regions among Croatia, Greece and Turkey are going to see the biggest growth and why?
D. H.: Turkey is great it’s still an affordable market for many. With the banks now offering mortgage products it should open up more and see some steady growth. Croatia will steadily grow as demand is very high and the government have been very clever in not allowing there main asset, the coast line to be ruined by thoughtless developments. I think Greece will see the most growth next year. Tourism is massively on the up here, and its changing to meet the more sophisticated demands of top end tourists. The financing opportunities make Greece an attractive and affordable place to own a second home, and with the access and very long season im sure many will choose Greece.
TDN: Are you going to invest in new properties within Greece in the near future and where?
D. H.: Personally I am going to look at a place near to the sea in Athens. Athens is great and not many outside of Greece know that it has everything to offer. For me when I go on holiday I want beaches, and I want a busy nightlife with a variety of options. Athens has got it all. As a business we are all so in love with Kefalonia it will take a lot to pull our eyes away from there.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
