Premia Properties is making a major push in the tourism sector, as it prepares to invest over 400 million euros in both new hotels and new student housing by the end of the year.
Presenting the investment plans for 2026 at yesterday’s Annual General Meeting of Shareholders, CEO Kostas Markazos (photo) announced that AEEAP has established a new subsidiary in the hospitality sector, with Natalia Strafti, former CEO of Grivalia Hospitality, taking the helm of the company.
The subsidiary, named PremiaHotelInvest, will take over the new hotels that AEEAP acquires, once it also assumes their management.
“Right now, the hotel sector is of the greatest interest to international investors,” said Mr. Markazos. “By the end of the year, I believe PremiaHotelInvest will have a portfolio worth 250–300 million euros. We won’t be in city hotels. Our goal isn’t luxury tourism, nor boutique hotels, but a step below that. We’re targeting mass tourism,” he added.
Regarding the new hotels it has set its sights on, which are located in island regions, Premia has signed a Memorandum of Understanding (MOU) for their acquisition.
It should be noted that Premia will own 100% of PremiaHotelInvest; however, the fact that the new investments will be made through a new subsidiary—rather than through the existing corporate structure—suggests that a new strategic investor may also enter the picture down the line.
Total investments
In addition to investments in hotels, AEEAP has also announced new investments totaling €150 million, primarily involving student housing and a hotel in Kos. Consequently, investments for the next seven months are estimated to total over €400 million.
“Our goal is for our portfolio to exceed €1 billion by 2026, which we consider almost certain. We are implementing an investment plan with projects we have already secured and are currently in the implementation phase,” the CEO emphasized.
According to the group’s financial results for the first quarter, its portfolio consists of 74 properties with a total investment value of €706.5 million.
The student housing sector, where Premia Properties holds a leading position, remains the company’s top priority.
“Next year, we will have 20 student housing buildings across Greece, with a total of 2,000 rooms. We currently have 10 student housing buildings under construction, and we will acquire more in Athens, Thessaloniki, and Volos,” noted the CEO. “Our model is very specific, mainly in city centers, while operations are handled by a third-party company. Demand is huge,” he explained.
This is impressive growth. It should be noted that eight months ago, the company announced that it had seven student housing facilities in operation, with a total capacity of 400 rooms.
Sale in Thessaloniki
Meanwhile, AEEAP recently completed the sale of a logistics property for €17 million in Sindos, Thessaloniki. Also, in Thessaloniki (Kalamaria), it leased offices that the company itself had built to the Independent Authority for Public Revenue (AADE) for approximately €700,000 per year.