The Vantarakis Hotel Collection group is set to expand its portfolio with yet another five-star hotel , as “ANAX Hotel Single-Member Private Capital Company,” whose sole partner is Vantarakis S.A., has launched a new €50 million investment in Georgioupolis.
The plan calls for the development of a new 5-star hotel with a capacity of 499 beds at the “Tzougaris” site, outside the village of Asproulians, in Georgioupolis.
More specifically, the hotel will include a total of 303 rooms, of which 139 will be double rooms, 107 single rooms, 52 double suites, and 5 rooms for people with disabilities.
The property on which the hotel will be built has a total area of 63 acres. The permitted building coverage is 12,787.80 square meters (20% of the total area), while the actual building coverage is 12,473.36 square meters.
Accordingly, the permitted building area is 12,787.80 square meters, with a Floor Area Ratio of 0.20, and the actual building area is 12,698.21 square meters. In addition, the construction of semi-open spaces with a total area of 2,549.92 sq. m. is planned, pergolas covering 703.82 sq. m., canopies covering 1,356.84 sq. m., as well as swimming pools with a total water surface area of 2,864 sq. m.
The Objective
The primary objective of the project is to create a modern, high-standard hotel accommodation that will provide quality hospitality services while respecting the natural and built environment and incorporating principles of sustainable development, as stated in the relevant Environmental Impact Assessment (EIA), which was prepared as part of the complex’s environmental permitting process.
“The investment aims to upgrade the tourism infrastructure of the wider Georgioupolis area, to strengthen the competitiveness of western Crete as an international tourist destination, to create new jobs during the construction and operation phases, and to stimulate the local economy through partnerships with businesses supplying goods and services,” the report notes.
It is estimated that the operation of the facility is expected to substantially boost the local and regional economy by increasing employment, tourism spending, and demand for local products and services.
The relevant authorities will issue their opinions regarding the issuance of the AEPO by June 16.
It should be noted that an environmental permit for a larger hotel complex with 1,048 beds was approved in 2018 for the wider area , but the project was not implemented due to changes in ownership. This previous approval confirms the suitability of the area for tourism development.
According to the relevant EIA, the new study is being submitted independently, taking into account updated data and the current regulatory framework, ensuring a comprehensive environmental assessment of the project.
The group’s profile
The Vantarakis Group (Vantarakis Hotel Collection), which has been active in the hospitality industry for more than 35 years, has developed a portfolio of five hotels in Crete: the Anemos Luxury Grand Resort, the Mythos Palace Resort & Spa, the Eliros Mare Beachfront Poem Hotel, the Pepper Sea Club Hotel, and the Ventale Island Breeze Resort.