The Porto Carras Grand Resort in Thessaloniki has been sold to Belterra Investments for more than €200m. It’s the largest transaction to go through in Greece’s hospitality sector since hotels were closed down due to the COVID-19 pandemic. Located on the Halkidiki central peninsula, the resort covers 1,763 acres offering 990 hotel rooms that are divided between two 5-star hotels and a luxury boutique hotel called the Villa Galini. The resort offers a private marina with 315 berths as well as an organic vineyard, two golf courses and a casino. Technical Olympic was advised by Cushman & Wakefield’s EMEA Hospitality Team in the sale. Its head of CEE David Nath said the transaction demonstrated when it comes to well-positioned hotel assets, investors continue to have faith “that the hospitality sector will rebound once the outbreak is brought under control.”
