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HotelBrain Launches Strategic Partnership with Kipriotis Hotels

HotelBrain has entered into a strategic partnership with the Kipriotis Group that foresees the long-term lease of all five of Kipriotis’ hotels located on the Greek island of Kos.

A leading hospitality management and consulting group, HotelBrain has a portfolio of 87 privately owned – through long-term leases – hotels with a total capacity of 5,500 rooms in 37 destinations throughout Greece. The group also offers integrated hotel management services to 90 third-party hotels.

The portfolio of Kipriotis Group includes five modern hotel units on Kos, featuring a total of 1,500 rooms (4,500 beds) and two conference centers that can host up to 7,500 delegates.

“We welcome Kypriotis Group’s hotels to our portfolio and make a clear commitment to remain worthy of its trust,” HotelBrain Founder and CEO Panos Paleologos said.

“The group’s hospitality product is excellent and we estimate that in the medium term, we will be able to ensure the stable operation of its hotels and achieve the significant improvement of both the quantitative and qualitative indicators of its units,” he added.

Kipriotis Group expects the new partnership to provide both parts with significant financial benefits.

“Our collaboration with HotelBrain, the largest, most reliable Greek hotel group, will ensure significant financial benefits and secure jobs for our staff that during these difficult years has actively supported our hotels,” Kipriotis S.A. President and CEO Kostas Kypriotis said.

“We are confident that without liquidity restrictions our hotels will generate higher returns and our properties will play a leading role in medical and conference tourism,” he added.

The Kontogeorgiou Bakopanou & Associates law firm acted as the legal advisor of the transaction.

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