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Mantonanakis Group to operate Nafplio Xenia

The Crete-based Mantonanakis<.> Group has signed an agreement for the long-term lease of the state-owned Xenia Akronafplias hotel group located…

The Crete-based Mantonanakis<.> Group has signed an agreement for the long-term lease of the state-owned Xenia Akronafplias hotel group located in the Peloponnesian town of Nafplio.

Hellenic Tourism Organisation (EOT) general secretary Evgenios Yiannakopoulos and company representative Anna Mantonanaki signed the lease which hands over Nafplio`s Xenia Palace, Amfitrion and Xenia A` to the Cretan firm, which owns the world-class Elounda Beach resort, for a period of 30 years. An annual rent of 450 million drachmas will be paid to EOT.

The Mantonanakis Group plans to invest 2.5 billion drachmas in the full renovation and upgrading of the three units – which it hopes to complete in the space of 18 months – while the lease agreement is worth 16 billion drachmas in total.

Yiannakopoulos referred to the history of the hotels, noted the tourism potential of the area – a favoured weekend destination for Athenians, and expressed confidence that the investment will benefit all parties.

Anna Mantonanaki pointed out that the units occupy a privileged position, promising that the company will make every effort to develop them to their full advantage.

Overlooking the famous Bourtzi islet, the Xenia Palace has 48 rooms, three suites and 54 bungalows while the nearby Xenia A` has 58 rooms. The Amfitrion is located on the seafront in the heart of Nafplio`s old town.

The agreement forms part of the government`s efforts to privatise EOT-owned Xenia properties, which are located in prime positions around the country.

Yiannakopoulos also announced a nationwide tourism development study will be conducted in a bid to clarify the priorities of each area so that local proposals be considered for EU Third Community Framework funding.

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