Attica Holdings S.A. (“Attica Group”), expands further its presence in the Greek tourism industry and announces the acquisition of the owning company of “Tinos Beach” hotel by its subsidiary Attica Blue Hospitality S.M.S.A (“Attica Blue Hospitality”), for a total consideration of Euro 6.5 million, financed through a bank loan and own funds.
Tinos Beach is located in the Cycladic island of Tinos, in the area of Kionia. The hotel complex is constructed on a total surface area of 14,500 sqm, has 180 rooms and consists of a three story building with basement and three bungalow complexes. Attica Blue Hospitality will upgrade and modernize the hotel facilities.
The acquisition of Tinos Beach is another step in Attica Group’s investment in the hospitality industry, allowing for the provision of a wider range of tourism related services and products, while strengthening its financial position through investment in sectors offering immediate synergies.