The group, which now operates 40 hotels and resorts with a total capacity of 25,000 beds, has been implementing a ten-year investment plan worth €1 billion since 2021. The plan, bearing the hallmark of its founder, Nikos Daskalantonakis, is based on four strategic pillars: expansion abroad, further strengthening the group’s presence in Greece, upgrading existing properties, and entering the branded vacation home market.
“For 50 years, we have been creating destinations, emotions, and experiences,” said CEO Mari Daskalantonakis, presenting the group’s strategy.
Development Plan in Greece
As stated at a company event attended by Ms. Mari Daskalantonakis, Odyssea Sifounaki Daskalantonakis, and senior executives of the group, on the occasion of the group’s golden anniversary, new properties are being planned in the Peloponnese, Crete, Corfu, and Kos. The group is also actively exploring new investment opportunities in the historic center of Athens, where “The Dolli at Acropolis” and “Pallas Athena” are already in operation.
At the same time, an extensive renovation program of existing hotels is underway. Astir Palace Alexandroupolis will reopen in April following a complete refurbishment, while the Grecotel Filoxenia in Kalamata will fully reopen on May 1 after a €15 million investment. Other properties slated for upgrades include a hotel in Crete and the “Pallas Athena” in Kotzia Square.
According to management, the investment plan targets selective development in luxury resorts, hotel real estate, and branded residences across six Greek destinations, alongside international market expansion. To date, investments of €350 million have been implemented, of which €240 million were directed toward modernization of existing units and €110 million toward acquisitions and development of new properties.
In 2025, Grecotel recorded strong financial results with revenues of €413 million. Crete and Corfu remain the main revenue pillars, accounting for 57% of total turnover, while the United Kingdom and Germany continue to be the leading markets, contributing 44% of revenues. The group hosted 425,300 visitors from 190 countries, recording 2.3 million overnight stays, with 30% of visitors returning.
Grecotel employs 7,500 staff—80% of whom are Greek and 49% women—making it the largest employer in the Greek tourism sector. Thirty percent of positions are filled by residents of local communities, underscoring the group’s close connection to regional development. “Our people, our brand, and our real estate are the three main pillars of our growth,” emphasized General Manager Nikos Bousgoulitis.
In the real estate sector, the group owns 4,059 acres of coastal land as a land bank and 502,000 square meters of built space, part of which will be used to create new properties. Grecotel’s total contribution to the Greek GDP over its 50-year history is estimated at €2.8 billion, alongside active engagement in local ecosystems and institutions.
A 50-Year Journey
Grecotel’s story began in 1975 with the acquisition of El Greco in Rethymno. In 1981, with its founding by Nikos Daskalantonakis and TUI, the company entered a new era. From 1993 to 2002, rapid expansion followed with developments in Mykonos, Rhodes, Athens, eastern Crete, and Kos, while in 2004, the group inaugurated ten new hotels across the country. In 2013, Mari Daskalantonakis acquired TUI’s share, making Grecotel 100% Greek-owned. In 2023, Odyssea Sifounaki Daskalantonakis, representing the third generation, joined the group, and “The Dolli” opened as the first and only Greek hotel to receive the UNESCO Prix Versailles World Award.
