With increased turnover, significant investments, but also losses, 2025 closed for the two companies whose financial statements reflect the activity of six hotels of Louis Hotels in Greece.
Five of them are included in the statements of Louis Hotels S.A., while the sixth, King Jason Zante, appears in the statements of Vasilefs Iason Single-Member S.A. It is noted that the Cyprus-interest group has a total of seven hotels in Greece, with Amada Colossos Resort in Rhodes being the only one not covered by the financial statements of the two companies examined here.
In aggregate, the turnover of the two companies reached 27.72 million euros, from 24.44 million euros in 2024, showing an increase of approximately 13.4%. This amount results from the addition of their published figures and does not constitute a consolidated result of Louis Hotels in Greece.
The picture of Louis Hotels
Louis Hotels S.A. recorded in 2025 turnover of 23.19 million euros, compared to 22.34 million euros a year earlier. However, this small increase, amounting to approximately 852 thousand euros, was not accompanied by an improvement in profitability.
Operating profits before interest, taxes and depreciation fell to 2.63 million euros, from 4.36 million euros in 2024. After depreciation and financial charges, the year closed with losses of 1.84 million euros, compared to losses of approximately 799 thousand euros the previous year.
Behind this development are, among other things, the increase in operating expenses and personnel costs, as well as higher depreciation of fixed assets. The average number of employees amounted to 318 people, from 267 in 2024. At the same time, the occupancy rate published by the company stood at 75%, from 78% a year earlier.
Of particular interest are the investment payments. According to the cash flow statement, the company significantly increased spending on its hotels, as in 2025 it paid 13.83 million euros for property, plant and equipment, compared to 2.02 million euros in 2024.
The management cites as a significant event of the year the completion of the renovation of Valmar Corfu. The hotel opened in July 2025, according to the group's presentation, which means that last year did not reflect twelve months of operation in its new form.
At the end of 2025, the bank loans of Louis Hotels, long-term and short-term, amounted to approximately 20.77 million euros, from 14.96 million euros at the end of 2024.
King Jason Zante
As regards the course of Vasilefs Iason Single-Member S.A., its turnover more than doubled to 4.52 million euros, from 2.10 million euros in 2024. Losses before tax were reduced to 516 thousand euros, from 1.28 million euros, while the result before interest and taxes moved marginally into positive territory.
The management report notes that the second construction phase of King Jason Zante was completed at the end of July 2025. The completion of the second phase creates a different basis of comparison for 2026, with the management estimating that the company's turnover will increase and results will improve, as the hotel will be operational for the entire tourist season.
At the same time, the value of the company's properties increased to 16.76 million euros at the end of 2025, from 14.97 million euros a year earlier, while total tangible fixed assets stood at 20.39 million euros, from 19.02 million euros.
As for the ownership status of the other five units, Louis Hotels S.A. has full ownership of the properties of Kerkyra Blue and Valmar Corfu in Corfu. By contrast, it operates under a lease arrangement the Mykonos Theoxenia and Once in Mykonos in Mykonos and the Asterion Suites & Spa in Chania. Accordingly, the property at the Paliovigla location of Zakynthos, where the King Jason Zante hotel operates, is recorded as the property of the company Vasilefs Iason Single-Member S.A.
Overall, of the six hotels examined, three operate on properties owned by the respective companies and three on leased properties.