Azora, the Madrid-based European real estate investment manager, officially acquired the Sheraton Rhodes Resort, a five-star beach-front hotel on the island of Rhodes, Greece, on behalf of the Azora European Hotel & Lodging F.C.R., from Lampsa Hellenic Hotels S.A.
Supported by Xenios Investments Partners, the recent transaction underlines Azora's firm conviction for the sun and beach hotel sector across Europe. Sheraton Rhodes Resort marks the firm's first hotel acquisition in Greece and joins an existing portfolio of 34 hotels across Spain, Italy, Portugal, and Belgium.
"We strongly believe in the Greek market and its longstanding appeal, not only for attracting European visitors but also to cater to the growing U.S. tourist base," said Concha Osácar, one of Azora's Founding Partners. "Our latest acquisition is an asset of exceptional quality and is strategically located in one of the most popular islands of the Aegean. Moreover, the hotel will continue to be run by a best-in-class operator, Marriott, and we look forward to partnering with them in this endeavour."
Continued to be operated by Marriott, Sheraton Rhodes Resort comprises 401 keys, most and extensive facilities, including five F&B outlets, three outdoor swimming pools, a spa with an indoor swimming pool, a kid's club, sports and leisure facilities, 15 meeting rooms and more than 13 square metres of space for hosting corporate or social events.
