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SMERemediumCap reaches an agreement for the acquisition of Patmos Aktis Suites & Spa
Posted: April 2, 2022
The investment fund SMERemediumCap (SMERC) has entered into an agreement for the acquisition of 100% of the shares of a newly established company, formed through the contribution of the demerged hotel operations of Patmos Aktis Suites & Spa (“Patmos Aktis”) from Xenodochion Kos S.A., a company owned by the Poulios family.
Patmos Aktis Suites & Spa and its uniqueness
The beachfront hotel originally operated as a XENIA property and today stands as the only five-star hotel on the sacred island of Patmos. Part of the Dodecanese, the island has been designated a World Heritage Site by UNESCO, renowned for its historical significance, centuries-old religious tradition and distinctive architecture. Patmos Aktis is located in one of the most beautiful settings in the Aegean, in Grikos Bay on the southeastern side of the island.
SMERemediumCap (SMERC) aims to qualitatively upgrade and expand the hotel’s hospitality infrastructure, significantly increasing its current capacity of 175 beds. In addition, the incorporation of traditional architectural elements of Patmos is planned across the buildings and surrounding landscape, further highlighting the island’s architectural and cultural identity. The objective is full harmony with the natural environment, ecology and the local community, so that Patmos Aktis Suites & Spa becomes a distinctive destination for rest, hospitality and tranquillity.
“Our vision is that, in the coming years, Patmos Aktis will be established among Greek and international visitors as one of the most distinctive, high-quality, beautiful and unique destinations in the Mediterranean. This specific investment, amounting to a total of €17 million, capitalises on the strong growth in demand in the hospitality sector in recent years, a sector that was significantly affected by the pandemic. It also represents another tangible example of our Fund’s mission to invest in Greek productive enterprises with strong growth prospects and the ability to deliver high-quality services, creating value for all stakeholders while simultaneously generating new economic opportunities for the local community and the Greek economy,” stated the Chairman of SMERC, Nikos Karamouzis.
“The Poulios family, the creator of Patmos Aktis, whom we sincerely thank for the cooperation, will continue to support the project, contributing its valuable experience and in-depth knowledge of both the sector and the region,” Mr Karamouzis concluded.
Διακυβέρνηση και ομάδα
The transaction is expected to be completed in the near term, and Patmos Aktis Suites & Spa will operate as scheduled from 3 June.