HotelBrain Group Expands Activity to Cypriot Hospitality Market

Photo source: HotelBrain Group

HotelBrain, a leading leading hospitality management and consulting group in Greece, with over 100 privately owned hotels – through long-term leases – in its portfolio, recently expanded its activity in Cyprus.

According to a company announcement, HotelBrain has entered the Cypriot market through its wholly-owned subsidiary HotelBrain Cyprus Ltd, following its successful model that sees the long-term leasing of hotels.

HotelBrain’s Cyprus portfolio already includes four hotels with a total capacity of 306 rooms. More specifically, the company’s portfolio includes an 84-room accommodation in Agia Napa, a 112-room hotel and two others with 50 and 60 rooms each, in Pernera Beach in the Protaras area.

The four hotels have already been leased and will operate during the current tourism season.

Agia Napa, Cyrpus. Photo source: Visit Cyprys / Stefano Gerardi

“The expansion in Cyprus is a strategic decision based on the attractive features of the Cypriot tourism product combined with the particularly important synergies that the HotelBrain Group seeks and develops,” the company’s management said.

HotelBrain’s entry into the Cypriot market is aligned with the group’s basic development structure, i.e. the provision of centralized support and management services and the decentralized operation of the individual hotel units.

HotelBrain’s medium-term goal for the next three years is for the Cypriot market to contribute more than 33 percent to the group’s overall figures.

Photo source: HotelBrain Group

HotelBrain Group is known as the largest Greek “hotelier” in terms of number of accommodations. In 2023 it operated 100 hotels of all types and in all Greek tourism destinations, with a total capacity of 7,200 rooms, through long-term leases. At the end of the year, the company’s turnover amounted to over 100 million euros.

Last year, the group employed some 3,000 workers in its headquarters and hotels, with more than 200 working year-round. The group’s number of employees is expected to exceed 3,300 in 2024.

Moreover, this year HotelBrain expects at least a 20 percent increase in turnover, as it will add around 15 more hotels to its portfolio.

Last year, HotelBrain’s founder and president, Panos Paleologos, announced an ambitious target to expand the group’s hospitality management portfolio in Greece and achieve a roster of 20,000 rooms by 2028.