- Aldemar Group sold all their hotels in Crete, including Knossos Royal, for €80M.
- Focus is now on Ilia with three major investments underway.
- Plans include two luxury hotels with hundreds of rooms and a tourist village.
- The new resorts aim to elevate the area’s tourist appeal.
- The first hotel, with 700 beds and 73 pools, will cover over 100 acres.
- Another hotel, planned since 2004, is back on track.
- A 600-home vacation village is also in the works.
Aldemar Moves Out of Crete, Goes All In on Ilia
After unloading their last Crete hotel, Knossos Royal, for a hefty €80 million, the Aldemar Group decided it was time for a change. Apparently, Crete wasn’t the vibe anymore. Now, they’ve set their sights on Ilia, a region primed for a tourism glow-up.
Leaving behind Crete, Aldemar isn’t just dipping a toe into Ilia—they’re cannonballing into the area with plans for not one, not two, but three fancy hospitality projects. Naturally, they’re banking on these ventures to turn Ilia into a deluxe tourist hub. And no, it’s not just about five-star hotels—they’re talking resorts, spas, and even a full-blown tourist village.
The company already has a foothold here with Aldemar Olympian Village. That’s no small-time operation—it includes a conference center for 3,000 attendees, a fancy spa, and enough pools to satisfy the thirstiest tourists. Now, they’re upping the ante with these new ventures.
Here’s the breakdown:
- The 700-Bed Hotel: This behemoth will sprawl over 100 acres, making your average luxury retreat look like a motel. With 73 pools, multiple bars, fancy suites, tennis courts, a kids’ station, and even a mini-golf course, it’s clear no one’s going to be bored here. And yes, 342 rooms will cover every lodging need from romantic couples to big noisy families. Around 150 to 200 employees will keep things running when it finally opens.
- Hotel #2: Remember that lingering hotel plan from 2004? It’s back. After years of sitting idle, the project now has fresh momentum. The 228-bed resort, set on 53 acres and budgeted at €22.5 million, will feature reception lounges, a central pool, a beach snack bar, and those all-important tennis courts. Seasonal, as nature intended.
- Tourist Village: If the resorts weren’t enough, Aldemar wants to toss in a village with up to 600 vacation homes. Neighboring their existing Olympian Village complex, this could transform the area’s landscape—though let’s hope not literally.
Crete might be a top-tier holiday destination, but Aldemar seems over it. They cashed out earlier this year, and now their Peloponnese strategy is full-speed ahead. If Aldemar’s Land Grab 2.0 works, Ilia will look more like Santorini and less like, well, Ilia.
