Major new tourism development in Greece coming up by Azur Selection

Tuesday, March 28, 2023

A major new tourism development in Greece has been initiated by The Azur Selection, a Greek hospitality company recently listed on the Euronext Access + market in Paris, The Azur Selection has planned the future construction of a 5-Star resort on a 7,5 hectare site in the Peloponnese region.

George Arvanitakis, founder and Director-Administrator of The Azur Selection, said, “This project is an important milestone for the company as it is the first following our recent listing which greatly enhances our ability to achieve the ambitious plans we have for our operations.”

A stunning resort with 300 rooms and a wide range of amenities is proposed for a seaside location between Patras and Aigio. The investment is expected to be €40 million.

The Azur Selection invests in hotels and commercial real estate using a lease and sublease business model, and it also runs an investment management firm through its subsidiaries and affiliated firms. It concentrates on hotel, hospitality, and real estate investments in highly commercial geographical locations such as Greece, the French Riviera, and elsewhere.

It presently administers a portfolio of commercial real estate and hotels in Athens and on Mykonos, with long-term contracts with the firms or customers of its buildings.

Its portfolio includes 5 hotels (3 are subleased to a hotel operator and 2 are fully managed), as well as a shopping centre.

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