The Hellenic Public Properties Company (ETAD), a subsidiary of the Hellenic Sovereign Wealth Fund, continues to implement its plan to revitalize the historic Xenia hotels with the signing of a long-term lease agreement for the “Xenia Ouranoupoli” with Domes Resorts, following the completion of the open electronic bidding process it conducted for the development of the property.
According to the relevant announcement, the lease agreement for the property, valid for a period of thirty (30) years, which was signed by the Managing Director of ETAD, Ms. Iro Hatzigeorgiou, and the CEO of Domes Resorts, Dr. Georgios P. Spanos, marks the beginning of a significant investment that will lead to the complete renovation and reopening of the hotel complex, once again highlighting one of the most iconic landmarks in Greek tourism history.
The Xenia Ouranoupoli was built in 1959 based on designs by the distinguished architect Pericles Sakellarios and is a prime example of the Greek National Tourism Organization’s historic Xenia program, which played a decisive role in shaping the modern Greek tourism product.
The property is situated in a prime location at the gateway to Mount Athos, features an extensive waterfront, and is one of the most significant tourism properties in the ETAD portfolio. This investment is expected to contribute significantly to the further development of the Ouranoupoli area and the wider Chalkidiki region, boosting employment, local entrepreneurship, and the destination’s international appeal.
ETAD CEO Iro Hatzigeorgiou stated: “The long-term lease of the Xenia Ouranoupoli is yet another significant step in ETA’s effort to breathe new life into iconic properties in its portfolio.
The Xenia hotels are an integral part of the country’s modern tourism and architectural history, and their revitalization is directly linked to the creation of new development opportunities for local communities. Our goal is to transform properties with strong symbolic value and distinctive characteristics into modern hubs of development, investment, and quality hospitality, while preserving their historical and cultural identity.”
The revitalization and redevelopment of the historic Xenia properties included in ETAD’s portfolio is a key pillar of the company’s strategy for activating properties with distinctive architectural and development value.
Through targeted investments and partnerships with reliable investors and market players, ETAD seeks to restore iconic properties to productive use, creating added value for the economy, local communities, and Greek tourism.