Op-Ed: ‘Greece remains a cornerstone of our strategic roadmap’ – Stavros Mitsis, Mitsis Group

Stavros Mitsis

Managing Director, Mitsis Group

In the realm of hospitality investment, choosing prime destinations involves a meticulous evaluation process that balances economic stability, legislative support, tourism development, and brand alignment. Our commitment to Greece’s tourism landscape is not merely driven by economic opportunity but rooted in a profound belief in the country’s potential to redefine the national hospitality narrative.

Choosing prime investment destinations is a strategic endeavour that necessitates a thorough understanding of market dynamics, cultural nuances, and long-term growth prospects. Greece, with its stable economic environment, legislative support towards investments, and exponential tourism development over recent years, emerges as a promised land for our visionary pursuits. Aligned with our ethos of delivering unparalleled guest experiences while fostering sustainable growth, Greece epitomises our vision for investments. The country’s rich cultural heritage, breathtaking landscapes, and vibrant communities resonate deeply with our commitment to creating valuable products that leave a lasting impact.

Reimagining the meaning of modern luxury and determined to continuously add value to our products and brands, we invest time, capital and expertise to bring to life ambitious infrastructure projects and upgraded services, welcoming over 400,000 guests annually. For more than 45 years, progress has been an intrinsic element in our DNA. Today, we are evolving, adding sophistication and a sense of luxury to everything we do. In the years 2017-2021, we have implemented an ambitious renovation and refurbishment programme, currently followed by an additional investment plan to fully upgrade our hotels & resorts across 7 destinations in Greece by 2030.

When evaluating the potential for hotel investment in Greece, Mitsis Group meticulously analyses specific characteristics and market signals that signify sustainable growth. Factors such as tourism and market trends, guest preferences, infrastructure development, legislative framework, and destination appeal play pivotal roles in our decision-making process, ensuring strategic alignment with our long-term objectives.

Our commitment to Greece extends beyond mere investment; it’s a testament to our belief in the country’s potential. We seek destinations that not only offer natural beauty but also cultural authenticity, infrastructure readiness, and potential for experiential tourism. With a pipeline of projects spanning diverse destinations such as Athens, Corfu, Rhodes, Halkidiki and more, we remain committed to expanding our footprint and enriching the Greek hospitality landscape. Deciding which of our brands is the best fit for the Greek market involves a meticulous assessment of brand identity, target audience preferences, and positioning strategy.

Among our hotel revamps, new properties and land acquisitions, the one recent investment that we take immense pride in is Mitsis Rinela, our ultra-all-inclusive 5-star resort on Crete which has undergone a massive restoration of its common and private spaces and has tripled its revenue within 7 years via Capex investment. Additionally, we are collaborating with renowned global architectural offices to redesign Mitsis Grand Hotel and Mitsis Rodos Maris on the island of Rhodes into prime Greek hospitality destinations, scheduled to open in 2026.

Concluding, in terms of our Group’s investment plans, Greece remains a cornerstone of our strategic roadmap. With a steadfast focus on innovation, sustainability, and guest-centricity, our vision transcends mere investments; it encompasses a commitment to forging valuable hospitality brands, lasting partnerships, nurturing communities, and shaping the next day of Greek tourism.