The Chandris Group is entering a new investment phase, expanding its footprint beyond the three hotel units it currently has in its portfolio and opening new fronts in Milos and Thessaloniki.
The spearhead of the group’s plan for 2026 is the agreement for the acquisition of Milos Cove in Milos, as well as the investment plan in Thessaloniki, which provides on the one hand for the modernization of The Met and on the other for the development of a new 5-star hotel with a capacity of 97 rooms.
As regards the prospects for this year’s fiscal period, management sets the revenue target for 2026 at 43 million euros for the three existing hotels, excluding the e&o restaurant, while also forecasting a significant 13.5% increase in their gross operating profit (GOP).
The new projects
The most important step for strengthening the group’s portfolio concerns Milos. As emerges from the financial statements of “Chandris Hotels (Hellas) S.A.”, in February 2026 it was decided to enter into a share purchase agreement for the shares of “Milos Cove Hotel Company S.A.”, the owning company of the luxury 5-star hotel complex Milos Cove Inception Resort, which is located in the Komia area.
The total consideration of the transaction amounts to 17 million euros, with the Chandris Group having already paid an advance of 3 million euros. Based on what is stated in the financial statements, the transaction is expected to be finalized next October.
This specific move, if completed, will allow the group, which today has a presence in Athens, Thessaloniki and Chios, to place one more pin on the Greek hotel map.
At the same time, Thessaloniki is gaining particular weight, where Chandris is preparing a dual investment project.
The group’s plan provides for the modernization of the existing The Met and the construction of a new 5-star hotel unit with 97 rooms, on properties that are co-owned with EVEK (Hellenic Industrial, Commercial and Real Estate) S.A.
For the financing of the investment plan, the issuance of a common bond loan of up to 39.845 million euros has been approved, with two series of bonds, the first of which will be covered with funds from the Greek State through the Recovery and Resilience Fund and the second by Alpha Bank.
The moves in the northern Greek city do not stop there. At the end of April, the company acquired an 85% undivided co-ownership stake in a multi-storey building erected on a plot adjacent to The Met. The financial statements mention an amount of 2.0825 million euros for the transaction, with the total consideration being set at 2.45 million euros.
At the same time, in May, the issuance of a new secured bond loan of 28.5 million euros through Alpha Bank was approved. Its purposes include, among others, the refinancing of an older bond loan, general business purposes, the acquisition of shares in companies, the refinancing of interim financing and/or the coverage of working capital needs.
At the same time, in June 2026 it was decided to submit an application for the inclusion of an investment plan amounting to 3.25 million euros in the “Special Support Areas” regime of development law 4887/2022, in the form of a tax exemption.
In the financial statements, however, it is not specified at this point which hotel unit this investment plan concerns. In any case, the budget is expected to be covered in full through a long-term bank loan from Alpha Bank.
The 43 million euro target
The new investment moves come at a time when the company expects a further strengthening of its operating performance. For 2026, management estimates that the turnover of the three existing hotels, excluding the e&o restaurant, will amount to 43 million euros.
An even greater increase is expected in the gross operating profit (GOP) of the three hotels, also excluding the e&o restaurant, which management forecasts will reach 21 million euros, from 18.5 million euros in 2025, recording an increase of 13.51%.
According to the financial statements for last year’s fiscal period, “Chandris Hotels (Hellas)” closed 2025 with increased revenue, but a decline in profitability. Turnover amounted to 39.97 million euros, from 38.81 million euros in 2024, recording an increase of 2.98%. Gross profits, however, rose to 21.22 million euros, from 20.16 million euros in 2024.
EBITDA declined by 5.44%, to 16.52 million euros, from 17.47 million euros in 2024, while profit before tax amounted to 13.34 million euros, from 14.09 million euros. Net profits amounted to 10.31 million euros, compared with 11.73 million euros in the previous fiscal period.
At the level of hotel activity, the largest increase in overnight stays was recorded by The Met, with a rise of 3.25% compared with 2024. At Athens Marriott, overnight stays increased by 1.49%, while at Chios Chandris they declined by 1.88%.
It is recalled that the group’s existing portfolio includes three owned hotels, Athens Marriott Hotel, The Met Hotel and Chios Chandris Hotel.