Lampsa Hotels Sells the Sheraton Rhodes Resort to Spanish Investment Fund

Photo © Sheraton Rhodes Resort

Lampsa Hellenic Hotels on Wednesday announced that it has sold the 5-star Sheraton Rhodes Resort to the Spanish investment fund Azora for 43.8 million euros.

Overlooking Ixia Beach, the 401-room resort is located in the area of Ialyssos on the Greek island of Rhodes.

The sale of the resort to Azora includes the property and hotel equipment.

“This is a strategic move by Lampsa, which aims to focus on central city hotels and strengthen its business and capital structure,” the company said in an announcement.

Lampsa has under its ownership the historic Hotel Grande Bretagne, the luxury King George Hotel and the Athens Capital Hotel in Athens. The company also owns the Hyatt Regency and the Mercure Excelsior Hotel in Belgrade.

“Lampsa congratulates the new owners on their acquisition and wishes them every success with this investment, which is also a vote of confidence in the Greek island tourism industry,” the company said.

Lampsa will continue to operate the Sheraton Rhodes Resort until the end of the 2022 summer season.