The hotel will be located within the former Fine Arts Theatre, in the Amara district of the city.

Phāea Resorts will offer sales, marketing and revenue management services to the company.

The company was co-founded by the family office of Stavros Ephraimidis and the Delfi Partners group.

The project developed by Gnosis Investment is expected to open in the second half of 2023.

The new hotels will join the four Fosun Tourism already operated in 2021 on Crete, Rhodes and Kos.

The basic principles of architectural design follow the morphology of Cycladic architecture.

Piraeus Bank is the requesting entity and the asset's starting price was set at € 5.28 million.

Tourist establishments will be forced to change.