The core foundation upon which Premia HotelInvest, a subsidiary of Premia Properties, will be built consists of the AKTI Hotels & Resorts group’s hotel properties in Rhodes and Kos.
Through the strategic partnership it has entered into with the hotel group, Premia Properties is strengthening its presence in the tourism sector by acquiring a stake in the AKTI group’s share capital and initiating modernization investments in the properties within its portfolio, which have a total capacity of 1,316 rooms.
According to reports, the investment plan of the listed real estate investment trust (REIT) calls for a renovation of the hotels in the Akti Hotels portfolio, without changing their capacity, at a cost of approximately 20–40 million euros. Premia Properties’ plan essentially involves the renovation of the Akti Imperial in Rhodes—formerly the Capsis Hotel Rhodes—as well as the consolidation and modernization of the three adjacent hotels of the Akti Group in Kos: the Akti Beach Club, the Akti Coast Club, and the Akti Palace.
A key advantage of the Akti Imperial, which the Real Estate Investment Trust (REIT) intends to leverage to the fullest, is its conference facilities, which can accommodate approximately 1,500 delegates. It should be noted that this is the largest conference center in Southeast Europe.
Renovation work is expected to begin either this coming winter or in the winter of 2027, after the end of the summer season.
The final agreement is expected to be finalized by the end of 2026, while the total investment, including renovation costs, is estimated to exceed 250 million euros. The Akti Group will continue to manage the hotels for the time being, while the newly established Premia HotelInvest will take over management once the investments are completed.
At the same time, Premia Properties executives are exploring new opportunities in the hotel sector to expand Premia HotelInvest’s portfolio, and they have not ruled out closing another deal within the current year. The AEEAP executives are targeting popular tourist destinations that offer the all-inclusive model.
The agreement with NLTG
This, however, is not Premia Properties’ first move in the hotel sector. In August 2024, the publicly traded company signed a €112 million agreement with the Swedish Nordic Leisure Travel Group (NLTG) to acquire two 4-star hotels in Crete and Rhodes: the Sunwing Kallithea Beach in Rhodes and the Sunwing Makrigialos & Ocean Beach Club in Ierapetra.
However, this agreement follows a different model, and, according to reports, these hotels will not come under the Premia HotelInvest umbrella. NLTG remains the operator of the two properties, retaining operational management through a long-term triple-net lease agreement.
It should be noted that the initial term of the contract is set at 15 years, with an option to extend for an additional 10 years (5+5).
AEEAΠ’s hospitality portfolio includes two additional hotels within Greece: the Gaia Palace and Gaia Royal in Kos, which will be managed by NLTG. This deal, including renovation costs, was valued at 73 million euros. The renovation of the two properties is expected to be completed in May 2027.