Attica Group has announced the acquisition by its subsidiary Attica Blue Hospitality of 100% of the shares of the owner company of the Tinos Beach hotel located in Kionia Tinos, for a total price of 6.5 million euros, as part of the strategic strengthening of its presence in the hotel industry and tourism.
The financing of the price comes from equity and bank borrowing.
The hotel complex has been built on a total area of 14,500 sq.m., it has 180 rooms in a three-story main building with a basement and three bungalow complexes. Attica Blue Hospitality will proceed with the upgrading and modernization of the hotel’s facilities.
The targeted activity in the hotel industry, which continues with the acquisition of Tinos Beach, expands the presence of Attica Group in the tourism industry through the provision of a wider range of services and products, while strengthening its financial position through investments in related sectors that offer direct synergies.
Source: Capital
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