In a strategic move that captured the hospitality industry’s attention, Karatzis Group secured a landmark hotel in Crete through a significant acquisition (news in Greek). Below are the main aspects of this transaction:
- Acquisition Agreement: The preliminary agreement for acquiring the Aldemar Knossos Royal from the Angelopoulos family’s ALDEMAR Group has been signed. A formal contract will follow at the end of November, finalizing the transaction.
- Price Details: The iconic hotel was sold for €80 million.
- Competitive Bidding: Four international investment funds participated in initial negotiations. Despite previous talks breaking down earlier this summer, Antonis Karatzis returned decisively to win the acquisition.
- Expansion Vision: This acquisition aligns with Karatzis Group’s strategy to enhance its presence in the hospitality and tourism sectors, complementing its interests in private aviation.
- Heritage and Growth: With Aldemar Knossos Royal, Antonis Karatzis expands the group’s reach in Crete, continuing a legacy that began in 1984 with Miltiades Karatzis’s construction of Nana Beach.
About Karatzis Group
Established as a global leader in innovative netting materials, Karatzis Group has evolved from a small plant in Greece to operating in over 70 countries with advanced production in Greece and Germany. The group’s competitive edge lies in high-quality products and substantial production capabilities exceeding 60,000 tons annually.
- Varied Operations: Entering the commercial sector, the Karatzis Group has been active in generating electricity since 2010. This venture began with solar parks in Katerini, Larissa, Boeotia, and Heraklion, underlining continuous investment in renewable energy sources.
- Hospitality Ventures: The organization also boasts a strong presence in the hospitality and tourism industry. The group owns the Nana Golden Beach in Hersonissos, a luxury all-inclusive resort featuring 500 rooms and suites. In 2018, the group opened the 5-star hotel Nana Princess Suites Villas & Spa, comprising 102 suites and villas, in Crete.
- Leadership: Antonis Karatzis, Chairman and CEO since 2009, has broadened the company’s global market reach and hospitality services. As a Glion Institute alumnus, he continues to pursue knowledge through specialized courses.
Aldemar Knossos Royal: A Gem by the Sea
Aldemar Knossos Royal is a 5-star resort on Crete’s stunning north coast, offering breathtaking views of the Aegean Sea. Spread across expansive, rolling lawns and lush greenery, Aldemar Knossos Royal provides guests with facilities and services that define comfort and luxury. The resort combines opulence with tranquillity, promising guests an unforgettable stay in Crete.
Resort Facilities:
- Multiple dining options, including six restaurants;
- A beach bar and five additional bars;
- Two main seawater pools, plus children’s pools;
- Sports facilities, including tennis and squash courts, water sports, a mini-golf course, etc.;
- Extensive guest services, including organized excursions, transportation options, and entertainment.
This acquisition propels Karatzis Group into the forefront of luxury hospitality in Crete, reinforcing its commitment to high-quality services and local economic support. The Aldemar Knossos Royal will now serve as a testament to the blend of modern luxury with Greek tradition.
