Costa Navarino: Increased revenue and new investments

This year, so far, the Costa Navarino tourist complex is running with revenues at 30% above 2019, not counting the extra rooms added in August this year with the new hotel unit, confirming the very good course of Greek tourism this year.

More than 80% of the visitors are from abroad, with the Germans and British having the lion’s share, while especially this year, the presence of Americans is also strong, accounting for more than 5% of arrivals, twice as much as in other years.

The Messinia complex of three operating hotels and four golf courses continues to implement plans for further development.

Costa Navarino is developing two new areas – Navarino Waterfront and Navarino Bay – with two new ultra-luxury hotels, W Costa Navarino and Mandarin Oriental, Costa Navarino, all within walking distance of Costa Navarino’s first development area, Navarino Dunes, of Romanos and Westin hotels.

At the Navarino Waterfront, W Costa Navarino, the first hotel of W Hotels in Greece, has been welcoming tourists since the beginning of August, on a 130-acre seaside area. With over 80% occupancy since its opening.

Next to the new hotel, the Navarino Agora is being developed, a market open to everyone and not only to the residents of the complex, with selected shops, street food, and an outdoor cinema.

The first Mandarin Oriental in Greece is being built in the Navarino Bay area, which will welcome its first guests in 2023.

Mandarin Oriental, Costa Navarino will feature 99 rooms, including 48 cave villas with private pools, as well as five restaurants and bars. The architectural design of the hotel has been overseen by the Study Office of Alexandros N. Topazis and K-Studio, in accordance with Costa Navarino’s principles of sustainable development.

The hotel will have spa and gym facilities of 1,500 sq.m.

The next plans

This is followed by the further development of the neighboring Navarino Hills area, in which the two new golf courses will be operating from February 2022 – on a total area of ​​1,250 acres. The two courses will be surrounded in the near future by hospitality units that will emphasize wellness.

The four golf courses target a market of around 80 million players worldwide, of which around 4.5 million are European players.

Golf is estimated to contribute to the European economy around 15.1 billion euros per year, while especially to the tourism economy of Europe it offers around 1.5 billion euros every year. A European golfer when traveling to play golf spends on average more than 250 euros per day.

In Costa Navarino, they believe that there is ground for further development of golf in Greece and tourism based on golf tournaments. Please note that the high golf season is from February to April and from October to November. The average stay of a golfer at the hotel is 6-7 days

The next investment phase

Finally, the next phase of investments concerns Navarino Blue, in the area of ​​Rizomylos, which is located close to the Kalamata International Airport.

The area is already demarcated as part of POTA Messinia. The aim is to develop themed hotel complexes that will offer a variety of high quality sports and entertainment activities.

Real Estate

An important part of the Group’s investment activity is the Costa Navarino Residences All villas have a private pool and are developed on large plots, in 3 different neighborhoods within Navarino Dunes (Costa Navarino’s first development area), which are called Sea Dunes, Olive Grove and Rolling Greens.

The villas at Sea Dunes are located just a few meters from the beach on plots starting from 1,550 sq.m. and have 5-7 bedrooms. All but three have been sold as demand has been high.

The villas at Olive Grove have panoramic views of the Ionian Sea, The Dunes Gourse stadium and the olive groves, are developed on plots starting from 1,350 sq.m. and have 4-6 bedrooms. The villas at Rolling Greens range from 235sq.m to 295sq.m, have 3 or 4 bedrooms, on plots from 700sq.m to 1300sq.m.

All villas in both these areas were sold within a year of their launch, with demand outstripping supply.

Also the branded apartments, The Residences at The Westin Resort Costa Navarino are a proposal that ideally combines use with investment. This proposal, following the trends of the international market, was presented by Costa Navarino for the first time in the Greek market, with success, attracting the interest of both Greek and foreign buyers.

More than 85% of the apartments have been sold.

As the demand has far exceeded the supply, TEMES, developer of Costa Navarino, is preparing and in the near future will present new residential proposals.