Grivalia Hospitality has moved ahead with the acquisition of 100 percent of the Amanzoe luxury resort in Porto Heli, Peloponnese, together with Dolphin Capital Partners (Dolphin), from LSE-listed Dolphin Capital Investors (DCI), the company announced on Thursday.
Under the deal, the buyers will pay a total of 5.8 million euros to DCI and includes assuming all existing liabilities of Amanzoe amounting to 110 million euros.
The deal also includes the sale of 20 Kilada Hills golf plots to Grivalia Hospitality for 10 million euros conditional on the company securing a senior development loan for the project, the issuance of final building permits and the tendering of a construction contract for the project’s first phase development.
Amanzoe consists of a luxury hotel resort and beach club, 13 sold villas and more than 20 available villa plots for sale. In its six years of operation, it has won numerous international awards and distinctions, the most recent being ranked 4th Best Hotel in Europe and 26th among the world’s 100 by Conde Nast Traveler readers at the 2017 Travel Awards.
The said agreement foresees that Dolphin continue its successful management of Amanzoe, focusing on the development and sale of new villas and the introduction of innovative concepts that will create the appropriate conditions for the extension of its operating period.
Designed by architect Ed Tuttle and launched in 2012, Amanzoe is the first hotel and luxury villas development project designed and implemented by Dolphin Capital Group in Porto Heli.
“We are proud to have developed Amanzoe to its current status as an iconic asset which has been consistently recognized as one of the top resorts in the Mediterranean. We remain confident that it will continue to offer its guests and villa owners the highest quality of services. This is an important Disposal for DCI as it is expected to provide sufficient funds to enable it to develop the first phase,” said Miltos Kambourides, founder and MD of Dolphin Capital Partners.