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Sani and Ikos Group 200 million euros investment

08/01/2016 Hotels , Top Stories
Sani and Ikos Group 200 million euros investment

Sani Resort SA and Ikos Resorts SA deal provides for an investment plan totaling up to 200 million euros in five years that will create up to 1,000 jobs

Sani Resort SA and Ikos Resorts SA, both running luxury hotel units in the Halkidiki peninsulain, northern Greece, announced their merger on Thursday together with a plan concerning the strengthening of the hotel brands and the expansion of their investment activities in tourism.

According to Tornosnews sources, the deal provides for an investment plan totaling up to 200 million euros in five years that will create up to 1,000 jobs.

The investement plan includes extensions to new suites and rooms as well as extensive renovations and upgrades of existing facilities and infrastructure in all units of Sani and Ikos.

Two stages

This part of the investment with a total budget of 40 million euros is underway and should be completed in two stages, during this and next year’s winter seasons.

The luxury suites in Sani Asterias shall be currently renovated in full, so that they will be available in the coming season, with a special design for the bathrooms that will essentially double them in size.

Five new luxurious 180 sq.m. family suites will also be created  with impressive interiors and exteriors, three bedrooms and bathrooms, private gardens and swimming pools.

Renovation and expansion

Extensive interventions are planned for the Sani Club as seven new two-bedroom family suites with garden and private pools will be formed this year. In the second phase, during the winter of 2016-2017, 50 junior suites will be fully renovated and another 20 new ones with swimming pools will be added.

Additionally, a new indoor pool, an outdoor pool, a restaurant and a reception parking shall be constructed.

In the “heart” of the Sani complex, the Sani Marina, there will be expansion of the shopping center and another restaurant created.

Upgraded and modernized

Ikos Oceania and Ikos Olivia units will be upgraded and modernized. At Ikos Oceania, all public and outdoor areas, the entrance, the facades, the spa, restaurants and bars will be renovated this year, while the pools will be heated. Next winter, the renovation of all rooms will follow.

The main stakeholders are Stavros and Andreas Andreadis and the investment funds will be managed by LA-based assets management firm Oaktree Capital Management while participants also include Goldman Sachs Asset Management and Hermes GPE.

Read also: Sani and Ikos hotel companies merge with Goldman Sachs-Hermes funds participation


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