
An investment plan of 250 million euros with the aim of fully upgrading the Group’s hotels and resorts is being implemented in five destinations in Greece by the Mitsis Hotels group, which is expected to be completed by 2026. The renovations concern both public and private areas of the units, adding new room types, facilities, amenities and F&B outlets.
“All renovations are based on our environmental philosophy and aim to minimize our environmental impact and mitigate our carbon footprint, improving energy efficiency, resilience, sustainability and biodiversity by adding heat-tolerant fauna and flora, preserving local environmental conditions and the transformation of spaces into nature-based solutions (NBS)”, Mitsis Hotels Group states in the third edition of the Annual Social Report for the year 2021.
Read also: Mitsis Hotels: Expands with the management of a new luxury five-star hotel resort in Halkidiki
This program follows a previous investment round for the years 2017-2021, amounting to 100 million euros.
New units in the portfolio
Also, at the same time, the group proceeded in the summer with the acquisition of the Aldemar Cretan Village Beach Hotel and Aldemar Royal Mare Thalasso Resort in Crete, doubling its presence on the island, while it also acquired the North Afandou area (Golf Afandou) in Rhodes where it will developed with three superior hotels, golf course, marina, villas, etc.
Kammena Vourla thermal springs
The investment plan for the coming years also includes the development of the “Loutropolis of Kammena Vourla” as the group was the only one to submit an offer to the Hellenic Republic Asset Development Fund-HRADF for its utilization through the GALINI HOTELS TOURISM AND COMMERCIAL ENTERPRISES S.A. scheme. and STARITEM INVESTMENTS PLC. The offer was unsealed a few days ago as well as the valuation of the independent evaluator for the rental value of the property. The above is being examined by HRADF and decisions are expected at the next meeting of the Board of Directors.
The property, with a total area of 474,524 m2, includes the facilities of the “Galini” hotel and the “Hippokratis” hydrotherapy center, which are in operation, the listed hotels “Radion” and “Thronion” and the “Asklipios” hydrotherapy center, which are abandoned. Within the area is the “Georgalas” thermal spring, which has been recognized since April 2020.
The tender process for the exploitation of the property is carried out in one phase, while the financial consideration includes a one-time consideration of at least 1 million euros and an annual rent, with the sole criterion for the evaluation of the offers being the highest final rent, made up of the one-time consideration and the annual rent offered in present value. The bidder, through the lease agreement, will be required to implement mandatory investments in order to upgrade and modernize the property.
It should also be noted that the Mitsis group is also developing a four star hotel in Piraeus with 150 beds, in the former Metaxas warehouse.


Latest News

Corruption Still Plagues Greece’s Driving Tests
While traffic accidents continue to claim lives on Greek roads daily, irregularities and under-the-table dealings in the training and testing of new drivers remain disturbingly widespread

Pope Francis Died of Stroke and Heart Failure Vatican Confirms
As news of the official cause of death spread, tributes poured in from across the globe. The 1.4 billion-member Catholic Church is united in grief, remembering a pope who championed inclusion, justice, and compassion

Increase in Both Museum Visits, Revenues for 2024
As expected, the Acropolis was the top archeological site in the country, followed by Sounion, Mycenae, the ancient theater of Epidaurus, and Vergina in northern Greece

Where Greece’s Tourists Come From: A Look at 2025’s Top Visitor Markets
The United Kingdom continues to hold the top spot as the largest source of incoming tourism, with 5.6 million seats booked for Greece this summer — up 2.2% from last year. This accounts for 20% of all international air traffic to Greece

Pope Francis: A Pontiff Who Reshaped the Papacy and Sparked a Global Conversation
His first words from the balcony of St. Peter’s Basilica—“Brothers and sisters, good evening”—set the tone for a pontificate that would challenge norms, favor mercy over dogma, and bring the papacy closer to the people.

When Blue Skies was Unmasked as ND’s Political ‘Slush Fund’
The fact that so many top New Democracy (ND) party cadres were paid by the firm Blue Skies, owned by Thomas Varvitsiotis and Yiannis Olympios, without ever citing this publicly, raises very serious moral issues, regardless of the legality

Greek Women’s Water Polo Team Top in the World after 13-9 Win Over Hungary
The Greek team had previously defeated another tournament favorite, the Netherlands, to reach the final.

S&P Raises Greek Rating; BBB with Stable Outlook
S&P’s decision raises the Greek economy to the second notch of investment grade ladder, at BBB with a stable outlook.

Greek Tourism Optimistic About Demand from American Market
A recent survey by MMGY Global, conducted from April 3–5 with a sample of 1,000 U.S. adults, found that 83% of Americans still intend to take leisure trips over the next 12 months, a slight drop from 87% in late February

New Exposé by Domumento Reveals Nefarious Triangular Link of ‘Black Money’ with New Democracy, Blue Skies, & Truth Team
The latest exposé by the Documentonews.gr news site lays bare what appears to be a surreptitious path of indirect financing of ND through the business sector—transactions that, as widely understood, rarely occur without expectations of reciprocal benefit