Hotel acquisitions and investments recorded in Milos, Athens and Crete
A GBR Consulting report records hotel acquisitions in Milos, Athens and Crete, along with expansion and repositioning projects.
According to GBR Consulting's Q3 2026 hospitality report, several significant transactions were recorded in the Greek hotel market, involving Chandris Hotels, Highgate and Mar-Bella Collection. In September, Chandris Hotels agreed to acquire the five-star Milos Cove Inception Resort for 17 million euros through a share purchase. The resort, operating since 2018 with 42 suites and villas, has received approval for an expansion of 17 additional units.
In Athens, US-based Highgate, in partnership with French firm Eternam, acquired the 191-room Athens Zafolia Hotel on Alexandras Avenue. This marks Highgate's first investment in Greece, with plans for extensive renovation and repositioning under an international brand.
On Crete, Marbella S.A., owner of Mar-Bella Collection, acquired Cayo Creta S.A., which operates the five-star Cayo Exclusive Resort & Spa in Plaka, Elounda. This is the company's first presence on Crete; the transaction value was not disclosed.
Meanwhile, Prodea Investments continues consolidating its holdings through MHV Mediterranean Hospitality Venture, in which it now holds a 99.99 percent stake. In October 2026, the 201-room Moxy Athens City was added to the portfolio, while the Nikki Beach Resort & Spa in Porto Heli has temporarily closed for renovation, set to reopen in June 2027 as Aliis Resort Porto Heli – MGallery Collection, in partnership with Accor.