Sani/Ikos continued to grow in 2025, with revenue rising and a return to profitability, while also significantly stepping up investment, with total spending, as measured by CapEx, exceeding €355m.According to financial data in the group’s 2025 ESG report, revenue reached €553.5m, up 12.6% from €491.4m in 2024. Compared with 2023, when revenue was €412.5m, the increase was nearly 34%.
Earnings before interest, tax, depreciation and amortisation (EBITDA) also rose, reaching €190.2m, from €176.1m in 2024, an increase of 8%. The figure stood at €141.3m in 2023.
Of particular significance was the group’s return to profitability, with a profit for the year of €9.6m, compared with losses of €24.9m in 2024 and €30.4m in 2023. In effect, this was the first profitable year since 2019, when the group recorded a profit of €15m; its results remained loss-making from 2020 to 2024.
The improvement in financial performance was accompanied by a significant increase in investment, as the group—whose co-CEOs and Co-Managing Partners are Andreas Andreadis and Mathieu Guillemin—expanded its presence in luxury hospitality and moved ahead with the development of new hotels in select Mediterranean destinations.
€355.8m in investment
According to the report, the group’s total investment, as recorded under capital expenditure (CapEx), reached €355.8m in 2025, up from €209.9m in 2024, an increase of about 69.5%.
The investment programme is linked to plans to further expand the group’s two hotel brands, Sani and Ikos Resorts, both in Greece and in other Mediterranean destinations.
At the heart of the growth strategy is the expansion of the Ikos Resorts portfolio, with four new properties in Greece, Spain and Portugal planned for the 2026-2029 period.
In Greece, Ikos Kissamos in Crete joined the group’s portfolio when it opened in April 2026, while plans are in place to develop Ikos Kassandra in Halkidiki, with the hotel scheduled to open in 2029.
The group describes Ikos Kassandra as the first hotel in the new Ikos Grand Resort category, marking a further expansion of the brand.
Outside Greece, plans include Ikos Cortesia in Portugal’s Algarve, scheduled to open in 2028, and Ikos Marbella in Spain, due to open in 2029.
Meanwhile, the group says it continues to consider adding new destinations to its investment portfolio as part of its strategy to expand across the Mediterranean.
With the addition of Ikos Kissamos, Sani/Ikos’s portfolio comprises 13 hotels and more than 3,870 rooms and suites in Greece and Spain, according to the report.
The group’s expansion is backed by majority shareholder GIC, Singapore’s sovereign wealth fund, which agreed to acquire a stake in Sani/Ikos in September 2022 in a transaction that valued the group at €2.3bn.
Employment and environmental performance
The expansion of the group’s operations was also reflected in employment, with total staff numbers rising by about 6% in 2025 to 7,354, from 6,941 the previous year.
Women accounted for 45% of the workforce, while the number of employees on permanent contracts rose by 17%.
On sustainability, the group used electricity from renewable sources, generated in-house and purchased through guarantees of origin, while 82% of total energy consumption, including thermal energy, was reported as coming from renewable sources.
Direct greenhouse gas emissions (Scope 1) rose by about 30% in 2025, a development linked to the expansion of the group’s operations and construction and renovation work. By contrast, indirect value-chain emissions (Scope 3) fell by nearly 20%.
As for water management, 370,302 cubic metres of water came from recycling, equivalent to 23.86% of total consumption, compared with 28.31% in 2024. Total water consumption nevertheless increased in 2025, reaching 1.55m cubic metres, up from 1.38m cubic metres the previous year.
A strategic goal for Sani/Ikos remains achieving a net-zero carbon footprint by 2030 for Scope 1 and Scope 2 emissions, as part of its broader effort to limit the environmental impact of operating and developing its hotels.