Fais Group assumed management of the luxurious Radisson Blu Zaffron Resort in Santorini in 2022.
The adults-only resort, operating under the Radisson Blu brand, features 103 elegantly designed rooms, suites, and villas.
In April of this year, the Group acquired the minority shares of its subsidiary company, LS Santorini Kamari Hotel S.A., the owner of the Zaffron Resort, for a total consideration of €628,125.
In response to a request from the Hellenic Capital Market Commission, the company announced that the Board of Directors had resolved not to include the aforementioned subsidiary in the merger process, as an assessment of strategic alternatives is currently underway, which includes the potential sale or transfer of the company.
The announcement further notes that the subsidiaries included in the initial merger plan are fully (100%) consolidated within the Group. Consequently, no impact on revenue is anticipated, while the effect on EBITDA resulting from reduced administrative expenses is not considered material to the Group’s financial performance.
It is also clarified that the Group’s cash flows and strategic objectives remain unaffected.
