The Revival of Historic Xenia Hotels Through New ETAD Investment Agreements

The revival of the historic Xenia (Greece’s iconic state-owned hotel network established between 1950-1974) has become a central pillar in the strategy of ΕΤΑΔ (Public Properties Company) to leverage state real estate assets. Specifically, for the 2025-2026 period, ETAD has accelerated the maturity and concession processes for these properties, aiming to transform abandoned or inactive infrastructure into modern hospitality units. As new trends in vacation homes and hospitality emerge, agreements have recently been initiated for four Xenia properties—specifically in Halkidiki, Crete, Arcadia, and Andros—as well as the historic Brunetti House in Kos.

Xenia Ouranoupoli: Investment by Domes Resorts

One of the most significant and high-profile agreements concerns the Xenia Ouranoupoli, designed in 1959 by architect Pericles Sakellarios. The property has transitioned to the management of Domes Resorts through a 30-year long-term lease. Its strategic location on the beachfront and at the gateway to Mount Athos favors both religious and premium tourism. The complex will undergo extensive renovation to operate as the first hotel under the international Casa Cook brand (Casa Cook Athos) managed by the Greek group. It will feature more than 80 rooms at a time when the European tourism market is recording sales growth for the coming years. According to the schedule, it is expected to welcome its first guests in 2027.

Xenia Karteros: Record Rent for the Aris Konstantinidis Landmark

In Crete, ETAD is moving forward with the utilization of Xenia Karteros, located near Heraklion. A 40-year lease agreement was signed for this property with the investment vehicle "GALAZIO KARTEROS – ILIOS LTD & VILLAGE PLANNING SINGLE MEMBER P.C." The annual rent amounts to €715,660, a figure representing one of the highest bids ever recorded in a similar ETAD tender. The hotel occupies an area of approximately 82 stremma (approx. 20 acres), was designed by Aris Konstantinidis in the early 1960s, and has been a listed monument since 2011. In a context where the reconstruction of old properties is reshaping the landscape of construction, its proximity to the city's international airport and its direct seaside access create the conditions for the development of a high-standard coastal destination.

Xenia Vytina: Boosting Mountain Tourism in Arcadia

Concurrently, there are significant developments in mountain tourism with the completion of the e-auction for Xenia Vytina in Arcadia. The final bidder was the company OTUS P.C., with a financial offer amounting to €121,003.63. The contract concerns a 40-year lease with a ten-year extension option. The property, constructed in 1961 based on designs by architect Kostas Bitsios, is situated on an estate of over 36 stremma (approx. 9 acres) and features 20 rooms, strengthening the tourism prospects of the wider region.