The Mantonanakis Group recently signed an agreement for the long-term lease of the Xenia Akronafplias hotel group of Nafplio, which is owned by the Hellenic Tourism Organisation (EOT). The organization’s general secretary, Evgenios Yiannakopoulos, and Mantonanakis company’s representative, Anna Mantonanaki, signed the lease.
According to terms of the agreement, the Crete-based company will own and manage Nafplio’s Xenia Palace, Amfitrion and Xenia A’ for a 30-year period. An annual rent of 450 million drachmas will be paid to EOT.
The Mantonanakis Group, which owns the world-class Elounda Beach resort, plans to invest 2.5 billion drachmas to fully upgrade and renovate the three units. It hopes to complete the project in the space of 18 months. During the official signing of the agreement, Mr. Yiannakopoulos referred to the history of the hotels, noted the tourism potential of the area – a favoured weekend destination for Athenians – and expressed confidence that the investment will benefit all parties.
Anna Mantonanaki pointed out that the units occupy a privileged position and promised that the company will make every effort to develop them to their full advantage. The Xenia Palace, with 48 rooms, three suites and 54 bungalows, overlooks the famous Bourtzi islet. The nearby Xenia A’ has 58 rooms, while the Amfitrion is located on the seafront in the heart of Nafplio’s old town.
The agreement forms part of the government’s efforts to privatise EOT-owned Xenia properties, which are located in prime positions around the country.