Grivalia Properties REIC announces to the investors that its hospitality platform Grivalia
Hospitality S.A. in cooperation with Dolphin Capital Partners («Dolphin») agreed to acquire
100% of Amanzoe from the London stock exchange listed company Dolphin Capital Investors
(«DCI»), Grivalia Hospitality by 85% and Dolphin by 15% and under the same terms.
The net consideration to be paid to DCI by the purchasers according to their proportion
amounts to € 5.8 million and in addition the purchasers will assume all of Amanzoe’s existing
loan obligations amounting to € 76.5 million.
Based on the agreement of the parties, Dolphin will continue its successful management of
Amanzoe by focusing on the development and sale of new villas and the introduction of new
concepts that will create the necessary conditions for extending its seasonality.
Amanzoe is the first complex development of a hotel compound together with luxury villas
designed and implemented by Dolphin Capital Group in Porto Heli. Amanzoe has been
recognized as a top tourist destination since its launch in 2012 and is now considered as
Europe’s most luxurious resort.
Amanzoe spreads over an area of approximately 1.000.000 m² and consists of a total built
and buildable surface of approximately 69.000 m² as follows:
• The Amanzoe Hotel & Spa comprising of 38 pavilions that have been built in total.
• The Amanzoe Beach Club comprising of 8 cabanas out of which 4 have been built
and 4 villas that have not yet been constructed.
• 45 Amanzoe Hilltop Villas, 8 of which have been constructed, 2 are under
construction and 3 are expected to be built in the near future.
Further to the Amanzoe acquisition, the seller and the purchasers agreed that Amanzoe will
undertake to purchase an area that includes 20 prime plots in Kilada Hills project of DCI for a
consideration of €10 million to build holiday homes and facilities destined for the exclusive
servicing of Amanzoe customers and villa owners. The consideration will be paid subject to
completion of customary diligence on the plots and commencement of the development
works of Jack Nicklaus Signature 18-holes golf course with Golf Club and Beach Club. Namely
half of the consideration will be paid by the start of construction works and the rest in
tranches, in line with the construction phases of the golf course.
The Chief Executive Officer of Grivalia Properties REIC and Chairman of the Board of
Directors of Grivalia Hospitality, George Chryssikos stated:
“Following the recent new successful 60 million-euro capital increase in Grivalia Hospitality,
the acquisition of such an iconic project, the 4th in Greece and the 2nd fully operational,
reiterates our commitment to our goal of making Grivalia Hospitality the no1 investment
platform in high quality touristic real estate properties in Greece.
Amanzoe’s growth strategy will focus on one hand, on further developing and selling villas
and on the other hand, on expanding the hotel’s season for the entire year, taking advantage
of the synergies that will be created also with the Kilada Hills golf course”.
Miltos Kambourides, founder and CEO of Dolphin Capital, stated:
“Amanzoe has been the last 6 years a landmark for high quality tourism not only for Greece
but also for the entire Mediterranean. We are excited to be cooperating with Grivalia and we
are confident that both Amanzoe and the development of Kilada Hills will continue to serve
as a benchmark for their aesthetic approach and offered services”.
GRIVALIA HOSPITALITY
Grivalia Hospitality, is the touristic platform of Grivalia Properties REIC and is based in Luxembourg.
The company’s share capital amounts to 180 million Euro, of which 50% is held by M&G Investments,
another 25% by Eurolife insurance group, while Grivalia Properties holds the remaining 25%.
Dolphin Capital
Dolphin Capital is an investment group founded in 2004, specializing in touristic real estate. Since its
inception, Dolphin Capital has raised equity over € 1bn. which has invested in 6 countries. The main
investment vehicle of the group is Dolphin Capital Investors (DCI), a company listed on the AIM market
of the London Stock Exchange.
Amanzoe
Amanzoe was designed by top architect Ed Tuttle and started its operations in 2012, being the first
Aman Resort in Europe which offered residences for sale. Built on one of the highest points of Porto
Heli area, it offers unobstructed views and includes 38 Pavilions and 4 Beach Cabanas, as well as
touristic villas, of which 13 in total have been sold. Among them is Amanzoe Villa 20 with a total
surface of 4.992 m², which is the largest villa among the 31 Aman hotels worldwide. Furthermore,
Amanzoe features also 3 restaurants, SPA and a private Beach Club on the beach of Korakia with three
swimming pools, a restaurant and mini -SPA. In its six years of operation, it has won numerous
international awards and distinctions with the most recent that of readers of Conde Nast Traveler (UK)
who ranked it in the “Travel Awards 2017”, the 4th Best Hotel in Europe and the 26th in the list of “Top
100 of the world” (26th in the World’s Top 100 list).
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
