PHAEA secures new approval for Rosewood Blue Palace in Elounda
PHAEA has obtained a new building permit revision for converting Blue Palace into a Rosewood property, targeting first guests in 2027.
PHAEA, the company owned by the Sbokos and Vasilakis families, is advancing to the next design phase for transforming the Blue Palace in Elounda into a Rosewood property, the brand's first in Greece. The Agios Nikolaos Building Authority issued a new approval on October 15 revising the building permit, setting total construction at 31,153 square meters on a plot of approximately 249 stremmas in Plaka. Rosewood Blue Palace is scheduled to welcome its first guests in 2027.
The new hotel will have 154 rooms and suites, 85 of them with private pools. Architectural design is by K-Studio, while Afroditi Krassa has designed the spaces for six restaurants and bars. The plan also includes wellness facilities under Rosewood's Asaya concept, hydrotherapy areas, exercise spaces and three outdoor pools.
Beyond the hotel, the approved plan includes redevelopment of the Argo complex and construction of 44 furnished tourist residences. The total capacity of the project reaches 631 beds, with 348 at Blue Palace, 113 at Argo and 170 at the residences. The design allows for transfer or long-term leasing of residences, capped at 30% of the total built area.
PHAEA is the successor to Sbokos Hotel Group, which has operated in Greek tourism since 1976.