The new hotel will also feature a main restaurant, a snack bar by the beach, an a la carte restaurant of fine cuisine on the sea front, a main bar and a spa center.
The Crete-based group recently sold 100 percent of its shares in subsidiary Stella Polaris Creta SA to travel company TUI Group. TUI plans to open a new Robinson Club on the 13 hectares of seaside land owned by Stella Polaris in Ierapetra, Crete.
According to Karatzis management, the sale was aimed at further strengthening the group’s current and future investment plans. Established in 1985, besides hospitality, the Karatzis Group is active in energy and industry.