Otus advances new five-star hotel at Vytina's Xenia
Otus has secured preliminary building approval to convert the historic Xenia Vytina into a 98-bed five-star hotel.
Otus ΙΚΕ is moving forward with redeveloping the historic Xenia Vytina hotel in mountainous Arcadia, after securing preliminary building approval from the Gortynia Building Authority. The aim is to convert the former state-run hotel into a five-star property with a capacity of 98 beds.
The plan involves restoring the existing buildings, with a total floor area of 1,346.42 sq.m., and adding new facilities covering 1,656.39 sq.m., including spa areas and underground facilities. Overall construction will reach 3,002.81 sq.m. with a coverage of 2,250.27 sq.m. and 20 parking spaces, on a 37,534 sq.m. plot at Kampea.
Otus, managed by Stratis Batagias, acquired the property through an electronic tender run by the Hellenic Public Properties Company (ETAD), emerging as the final highest bidder with an annual rent of €121,003.63 and a lease term of 40 years, extendable by a further decade.
The old hotel had 20 double rooms and 40 beds; under the new design, capacity will more than double to 98 beds. The building was erected in 1961, designed by architect Kostas Bitsios, and was designated a listed monument in 2008, making its restoration a central part of the investment.
The same company has already invested in the area through the Manna Arcadia property in Magouliana.