Lampsa Hellenic Hotels SA on Monday announced the purchase of a 50 pct equity stake in Touristika Theretra SA, owner of Sheraton Rhodes Resort Hotel, from Golf Residencies SA for 7,659,407 euros, according to ANA.
In an announcement, Lampsa SA noted that, following the transaction, it now owns 100 pct in Touristika Theretra SA. The company said it planned to fully absorb Touristika Theretra SA by the end of 2018, seeking to achieve significant scale economies between hotels and a better coordination of administrative operation and sales operations.
The group has also leased Kings Palace hotel, which it is expected to operate under the brand MGallery.
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