Grecotel unveils €550m investment drive to boost portfolio

Grecotel Hotels & Resorts has unveiled a €550 million investment plan to expand its presence in Greek coastal destinations and enhance the guest experience.

 

The funding will be delivered by 2029 and will have a dual strategic focus.

 

The first wave of investment will be centred on infrastructure, staff development and the integration of advanced digital tools, while the second will focus on improvements to the group’s existing hotels and the expansion of its portfolio. Grecotel said it had already secured “prime beachfront land” to develop “new high-end properties”.

 

Grecotel chief executive Mari Daskalantonaki said: “Our first goal is to increase interest in staying at our hotels. At the same time, we remain focused on strengthening our brand, enriching the customer experience, and showcasing the unique features that make our properties stand out.”

 

Grecotel said the investment reflected its response to “evolving traveller behaviours in the post-Covid era”, citing a “growing preference” for extended travel seasons beyond the traditional peak months, increased demand for pre-planned holidays over last-minute bookings, and rising interest in all-inclusive resorts - both in their traditional form and through more premium offerings, such as the brand’s LuxMe arm.

 

Daskalantonaki said overall visitor numbers for the 2025 tourism season remained “on par” with 2024 but added demand was shifting away from the traditional peak months of July and August towards June, September and October.

 

Destinations showing the strongest performance so far include Crete, Corfu, Kos and Athens.

 

Daskalantonaki said Mykonos and the Peloponnese were currently underperforming “relative to their potential”, highlighting “longstanding industry challenges within Greece’s tourism infrastructure”.

 

“The infrastructure that affects the visitor experience has not kept pace with the growth of the hotel sector in Greece, creating imbalances compared to our main competitor countries,” she said, adding that despite improvements in key airports and transport hubs, many destinations still face capacity limitations, ultimately affecting the “smooth handling” of tourist arrivals.

 

Grecotel also thanked its UK trade partners after seeing 40% growth in trade business in recent years.

Executive director and third-generation family member Odyssia Daskalantonaki credited the strong results to close collaboration with the UK trade, built through “sustained engagement” and a “comprehensive programme of constant exposure”.

 

She said: “The key to our success - that we hope to build on even further - is the incredible support we receive from UK agents. We’re proud of what we’ve achieved together, and even more excited for what’s ahead.” 

 

She added: “As Grecotel celebrates its 50th anniversary, the message is clear: the future is bright, and it will be built together with its most trusted partners in the UK travel trade.”