Zeus International Announces Hotel Upgrades, Adds Water Parks to 3 Resorts

Wyndham Grand Crete Mirabello Bay, Crete.

Zeus International Hotels and Resorts this year will continue upgrading hotels in its portfolio and strengthening its footprint in and outside of Greece, the CEO of the Greek hospitality company, Haris Siganos, said recently.

His announcement follows the company’s investments worth 80 million euros in 2023 that included hotel acquisitions, renovations to units and the creation of water parks in three of the resorts it runs. Zeus International runs hotels in Greece, Italy, Romania and Cyprus.

Speaking during a press conference in Athens, Siganos highlighted that plans for the next period include the further upgrading of the group’s recently acquired Lazart Hotel Trademark Collection by Wyndham in Thessaloniki and the Dolce Milan Malpensa (former Hilton) in Italy.

Aim to add more privately owned hotels to portfolio

Haris Siganos, founder and CEO of Zeus International Hotels and Resorts.

Highlighting that Zeus International is interested in boosting its portfolio with hotels that are privately owned or under a long-term lease, Siganos said the two recently acquired hotels is a key business move in the company’s development strategy that includes expanding in the European hotel market.

“2023 was a challenging year for us as we completed the acquisition of the Hilton in Malpensa, our first acquisition in Italy, which we then renamed and added to our Dolce collection… This move signals that more should be expected from Zeus International as we never remain with just one hotel in a destination,” he said.

Dolce Milan Malpensa, Italy.

In this context, Siganos said Zeus International’s investment plan foresees the upgrade of the Dolce Milan Malpensa, which is expected to be completed by 2025. The group is also in the process of renovating the Opera Hotel in Romania, an investment expected to wrap up in June.

“We will continue our expansion to European destinations in the coming years… In Greece we are proceeding with an investment plan that sees acquisitions, expansions and additions to the hotels already in our portfolio,” Siganos underlined.

Upgrades to hotels in Greece include creation of water parks

Zeus International’s CEO then informed on the renovations that have been completed, are in the process or scheduled for its hotels in Greece.

According to Siganos, adventure parks and water parks have been added to three of its resorts: the Ajul Luxury Hotel & Spa Resort in Halkidiki, the Dolce Attica Riviera in Vravrona and the Wyndham Grand Crete Mirabello Bay on Crete.

“Our aim is to create concepts to attract families who want to have holidays with exciting experiences and memories,” he said.

Ajul Luxury Hotel & Spa Resort, Halkidiki.

Presenting the upgrades to its hotels in Greece in detail, Siganos referred to the expansion of the Ajul Luxury Hotel & Spa Resort in Kassandra, Halkidiki, with the creation of a Water Park and Adventure Park. Plans for Ajul also include the addition of some 160 more bungalows and villas, following the acquisition of an adjacent plot of land. The addition of the bungalows and villas is expected to be completed in the next two years.

An Aqua Park and Adventure Park has also been added to the hospitality offering of the group’s Dolce Attica Riviera resort in Vravrona. Expected to open in May, the Adventure Park will also be open to non-hotel guests.

Dolce Attica Riviera, Vravrona.

Regarding the Wyndham Grand Crete Mirabello Bay, the resort has seen the addition of 35 rooms with private pools, reaching 343 rooms, villas and bungalows; a new restaurant, now including a total of 11 restaurants and bars; and a unique Water Park, one of the largest (12,000 square meters) in Greece.

Moreover, Zeus International has also completed the extensive revamp of the recently acquired Ammos Luxury Resort on Kos, which is being upgraded to a 5-star resort. Renovations will continue next year, with the addition of new rooms and private pools.

Ammos Luxury Resort, Kos.

In the last four years, Zeus International has upgraded facilities in its hotels that amount to a total of over 300,000 square meters.

Aim to boost revenue to 70 million euros, Extend season

Zeus International has nine privately owned hotels (in a portfolio of 22 hotels), which recorded an EBITDA (earnings before interest, taxes, depreciation, and amortization) of 23 million euros and a turnover of 50 million in 2023.

According to Siganos, the goal for 2024 is for revenues to exceed 70 million euros and EBITDA to exceed 30 million.

Ajul Luxury Hotel & Spa Resort, Halkidiki.

Zeus International has 2,600 rooms, including those under development, in its privately owned hotels. In total, the company manages 4,000 rooms, villas and bungalows.

Expanding the tourism season

Moreover, Siganos said Zeus International is focused on contributing to the expansion of Greece’s tourism season.

In this direction, the seasonal resorts Dolce Attica Riviera (Vravrona) and Ramada Attica Riviera (Mati) have already opened their doors for the season.

“The ultimate goal is for them to operate 12 months a year,” Siganos said.

The Wyndham Grand Crete Mirabello Bay on Crete is scheduled to open this Sunday, April 14, and will be followed by the rest of the resorts in Zeus International’s portfolio.

Wyndham Grand Crete Mirabello Bay, Crete.

During the press conference, Siganos said Zeus International will have an attractive pricing policy in its hotels, in order to make them accessible to the Greek market.

When asked about the performance of hotels bookings for 2024, Siganos referred to an upward trend.

“But the sector is so sensitive and faces multiple factors that it is still too early to talk about performing higher compared to 2023,” he said.

“However, the bottom line is that Greece is rising as a destination and even if today we are in a geopolitical state where key foreign markets (such as Russia, Ukraine, Israel) are essentially closed, Greece’s figures are historically high nevertheless.”

Zeus International launched 10 years ago as a hotel management/consulting company, undertaking the operation and development of luxury accommodation projects. The company is a strategic partner and works closely with international chains such as Wyndham Hotels & Resorts.