A storm of investments in tourism from international funds and the presence of new brand chains expect, in the coming years, the executives of SWOT Hospitality. In 2022, SWOT Hospitality will operate five new investment projects in the hotel market in collaboration with investors and foreign large chains.
The Greek tourism market will change a lot in the coming years, as new investments will be made, given that the investment interest is constantly increasing, stressed the president and one of the main shareholders of the company, Mr. Stelios Koutsivitis, during a presentation of SWOT activities.
“Foreign hotel chains still have a relatively limited presence in Greece compared to what is happening in other countries and especially in relation to its position in the international tourism market, while a lot of new investments are also expected” added. Mr. Panagiotis Konstantinidis, Managing Director and one of the key shareholders of SWOT, which manages hotels of international commercial brands, such as Marriott International Inc., Hyatt Hotels Corporation, Nikki Beach Hotels & Resorts and has a certification as a white label operator (WLO) by Accor SA, Intercontinental Hotels & Resorts and Leading Hotels of the World.
The new Projects
SWOT will implement five new projects in 2022, namely:
-In May 2022 opens the Magma Resort Santorini, The Unbound Collection by Hyatt. The hotel is owned by the Papakaliatis family
-In March 2022 opens Moxy Athens City (Marriott International) in the heart of Athens, owned by Dimand and Prodea
-In July 2022, the Monasty by Autograph Collection of Marriott International, the first international brand hotel in the center of Thessaloniki, owned by the Environmental Engineering, starts its operations
-In July 2022 opens Yi Mykonos, owned by ORA Hospitality (Sawiris Group)
-In April 2022 the Lindian Village Rhodes will start its operations, owned by the investment capital Zetland Capital
SWOT’s portfolio also includes Nikki Beach, owned by MHV Mediterranean Hospitality Venture of Invel Real Estate, PRODEA Investments and YODA GROUP and Moxy Patra Marina, owned by Dimand and Prodea, and a number of other hotels, with their total number reaching 25, with 1,188 rooms, worthing 100 million euros and employing 500 employees.
The turnover of these units will exceed 50 million euros in 2022.
SWOT, which was founded in May 2013 and constitutes a Hotel Management company based in Athens, which specializes in the management and the development of tourist real estate, in tourism investment, Sales & Marketing and consulting services, is constantly investigating.
The five directions
According to Mr. Koutsivitis, SWOT’s development strategy is based on five directions.
-Creation of a Hotel Management platform with international brands
-Reliable partner for Institutional, International and Local Investors, Real Estate Developers and Private Equity Funds investing in Tourism
-Participation in investments in cooperation with institutional investors, keeping for itself minority percentages
-Rental of brand hotels
-Expansion outside Greece, focusing on the wider region of Southeastern Europe.
Speaking about the DNA of SWOT, Mr. Panagiotis Konstantinidis, CEO, noted that they seek their cooperation with hotels of high aesthetics and modern architecture, putting special emphasis on the development of the F&B sector with a focus on lifestyle, while thet also offer the hotel under management a wide range of local and international public relations programs at leading Media locally and globally.
SWOT Hospitality’s services range from Hotel Management, Tourist Property Development, Sales & Marketing, Innovative Ideas for F&B, Consulting, Tourism Investment Management and Forum Organization.
Key shareholders are George Ch. Konstantinidis: Managing Director of REDS SA of the ELLAKTOR Group, Stelios N. Koutsivitis, President of SWOT, who has significant experience in investing and managing tourist real estate in Greece and Southeastern Europe, Panagiotis Konstantinidis, CEO, who participates in the SWOT Hospitality scheme since 2018 and Nikos N. Konstantinidis, Managing Partner with significant experience in business, financial and strategic consulting in the tourism industry.
Latest News
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.