# Karatzis Group pushes new hotel projects in Crete and Athens after 46% revenue rise

> Karatzis Group reports a 46.2% rise in hotel revenue and advances new projects including Pantheon Waterpark & Suites and Nana Princess Athens.

- **Section:** New hotels
- **Published:** 2026-10-09
- **Publisher:** Voyage (https://thevoyage.gr)
- **Type:** our own summary of someone else’s reporting
- **Source:** Tornos News — https://tornosnews.gr/featured/omilos-karatzi-anodos-46-sta-xenodocheiaka-esoda-kai-ependyseis-se-kriti-kai-ath.html

Karatzis Group announced that its hotel division revenue reached €53.35 million in 2025, up from €36.50 million in 2024, a 46.2% increase. Hospitality now accounts for about 32% of the group's total turnover.

A key factor was the acquisition of the former Knossos Royal in December 2024, which is being converted into Nana Royal following a €50 million renovation investment. Work began at the end of 2025 and is expected to be completed within 2026, funded in part through the Recovery and Resilience Facility.

At the same time, the group is developing Pantheon Waterpark & Suites, a complex inspired by ancient Greek mythology in Chersonissos, featuring 15 luxury suites and a €16 million budget.

In Athens, the company is advancing the Nana Princess Athens project, converting a property near Syntagma Square into an ultra-luxury hotel of about 100 rooms, with investment exceeding €80 million. The financial report also notes approval for acquiring two additional properties in central Athens for future development, without specifying addresses or price.

The move comes alongside similar initiatives by other groups in central Athens, such as the recent announcement by Athenaeum Hotels Group for a new boutique hotel in the area.

## Related from Voyage
- https://thevoyage.gr/en/a/athenaeum-hotels-group-announces-new-boutique-hotel-in-central-athens

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This summary was written by Voyage based on reporting by Tornos News. The full article is at https://tornosnews.gr/featured/omilos-karatzi-anodos-46-sta-xenodocheiaka-esoda-kai-ependyseis-se-kriti-kai-ath.html. Canonical URL of this page: https://thevoyage.gr/en/a/karatzis-group-pushes-new-hotel-projects-in-crete-and-athens-after-46-revenue-ri