The Papagiannis family, owner of the successful Possidi Holidays Hotel is expanding into the winery business. With an investment of 3 million euros, the family will develop the Domaine Claudia Papagianni winery in Arnaia Chalkidiki with vineyards extending on 250 stremmata.
The investment comes under the Ministry of Agriculture’s law, and began last month with the winery expected to operate in June 2007, said Nikos Papagiannis, and the first bottling will take place during the wine producing season.
The family intends to combine the family hotel business with the winery as it will be open for visitors. In addition to the winemaking facilities, the winery will have areas for visitors to learning about wines, and for holding events. These facilities will cover about 3,000 square meters of the 35-stremma area, where the central vineyards are located.
The winery will initially produce red, white and rose wine from the vines planted on the property including Syrah, Chardonnay, Asyrtiko, Malgouzia, Merlot and Xinomavro. They expect to produce 100,000 bottles this year and 500,000 in five years time.
Mr. Papagiannis said that investment plans to develop a spa center at the hotel are being postponed due to the investments being made in the winery this year.
Last year, the family invested 50,000 euros in renovations and improvements to the hotel and expect to spend the same on the hotel this year in keeping with the hotel’s five star status.
Possidi Holidays Hotel, offers 300 beds in 135 rooms, bungalows and suites, and enjoyed an occupancy rate of 83 percent last year.