The Israeli Fattal Hotel Group has acquired the five-star Cora Resort and Spa in Afitos, Halkidiki, from US private equity firm Bain Capital. Another high-end Greek resort changes hands. Another foreign group strengthens its position in the luxury segment.
The hotel sits on the Kassandra peninsula, about an hour from Thessaloniki. It has 181 rooms, open views over the Aegean, four restaurants, three bars, a private beach, and two outdoor pools. In short, everything expected from a modern luxury resort targeting high-spending leisure travelers.
Bain Capital reopened the property in July 2023, following a €24 million renovation. The upgrade pushed the investment cost to roughly €132,600 per room, transforming the hotel into a five-star unit and placing it firmly back on the luxury map of northern Greece. Less than two years later, Bain is out.
Under its new owner, the resort will be rebranded as “Meravia Hotel by Leonardo Limited Edition,” joining Fattal’s premium portfolio through its Leonardo brand. The strategy is familiar: private equity renovates, repositions, exits; hotel groups step in once the asset is stabilized.
Nothing unusual here. Just another reminder that Greece’s luxury hospitality market remains attractive, liquid, and increasingly dominated by large international players.
