Mitsis Hotels Rolls Out €500m Investment Program on Rhodes, Mykonos, Crete

Photo source: Mitsis Hotels

DELPHI, GREECE – Greek hospitality group Mitsis Hotels is rolling out a 500-million-euro investment plan to develop new tourism projects in Greece.

Set to be completed by 2027, the program includes the development of new luxury hotels on the islands of Mykonos, Rhodes and Crete, and at the port of Piraeus.

Speaking during the 7th Delphi Economic Forum on Friday, the group’s president Christina Mitsi said the circumstances were right for Greece to achieve further tourism growth.

“The Covid-19 pandemic is just a circumstance and people are eager to travel again. Meanwhile, the Greek government has created the right conditions for more investments to take place in Greece,” she said.

According to Mitsi, Greece has managed to boost entrepreneurship during the last few years by reducing bureaucracy, speeding up licensing procedures and decreasing taxation.

Photo source: GTP

New hotels

Mitsis Hotels’ five-year investment plan includes the development of a unique tourism destination in the Golf-North Afantou area on the island of Rhodes.

The group recently acquired a 1,350-stremma plot and plans include the creation of three hotels, a marina and a shopping mall.

Afandou, Rhodes. Photo Source: TAIPED

Mitsis will also develop a new hospitality property of 225 rooms and villas, and most likely a marina, on a 150-stremma plot on the island of Mykonos.

The group is also in discussions with local entrepreneurs on Crete to acquire two hotels outside Heraklion.

Furthermore, Mitsis Hotels is planning to turn an old factory located next to the Piraeus port into a 150-room boutique hotel.

The group last year completed another four-year investment project worth 100 million euros that involved various tourism projects including the purchase of a historic hotel in the center of Rhodes.

Mitsis Grand Hotel, Rhodes

During the 7th Delphi Economic Forum, Christina Mitsis participated in a panel discussion on hospitality and tourism investments along with Iasson Tsakonas, Managing Director, Oliaros; Stelios Koutsivitis, Chairman, SWOT Hospitality; Leon Avigad, Founder & Co-owner, Brown Hotels and George Kyvernitis, Managing Partner, Kyvernitis Travel.

The discussion was moderated by Maria Theofanopoulou, CEO of Greek Travel Pages (GTP).

Delphi Forum will close its doors on Saturday.