HIP has so far invested close to 100 million euros in the renovation and repositioning of its Greek assets, achieving a “very good” rating in the BREEAM sustainability certification for five of them.
BARCELONA, MADRID – Hotel Investment Partners (HIP), one of the leading owners of resort hotels in Southern Europe, owned by funds managed by Blackstone and GIC, adds two hotels to its portfolio in Greece, one of its priority growth markets.
The Sunprime Miramare Beach Hotel in Rhodes, and Alexander The Great Beach Hotel in the Halkidiki peninsula were acquired by funds managed by Blackstone, with the acquisition expanding HIP’s portfolio in Greece, one of the fastest growing tourist destinations globally, to ten assets (2,641 rooms).
Already present on the islands of Corfu, Crete and Zakynthos, Sunprime Miramare Beach is the first asset on the island of Rhodes that HIP has added to its portfolio. Sunprime Miramare Beach is a 174-room, five-star resort with a prime beachfront location on Ixia Beach. The hotel will undergo additional investment to be upgraded and repositioned. The foreseen capex plan includes the renovation of the rooms and common areas as well as the culinary and leisure offer.
Sunprime Miramare Beach, Rhodes
The company has also added a second hotel on the Halkidiki peninsula to its portfolio, one of the most sought-after destinations in mainland Greece. Alexander The Great Beach Hotel also has a premium beachfront location with direct access to one of Halkidiki’s best Blue Flag beaches. The hotel, acquired from a family-owned Greek operator, has 208 rooms which will be completely refurbished. The hotel will be operated by the Mitsis Group. HIP plans to reposition this asset into a family-oriented all-inclusive luxury resort.
HIP is committed to generating value for the destinations in which they operate through investment and repositioning of its hotel assets. As the leading investor in hotels in Spain, it will invest more than 750 million euros in its current portfolio of resorts and tourist hotels.
Current HIP portfolio in Greece:
- Athens (1 asset): Grand Hyatt Athens
- Crete (2 assets): Domes Aulus Elounda & Atlantica Ocean Beach Resort
- Corfu (2 assets): Domes Corfu & Dreams Corfu Resort Spa
- Zakynthos (2 assets): AluaSoul Zakynthos & Domes Aulus Zante
- Halkidiki (2 assets): Domes Noruz Kassandra & Alexander The Great Beach Hotel
- Rhodes (1 asset): Sunprime Miramare Beach Hotel
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
