Azora has acquired a 50.1% equity stake in Donkey Hotels, partnering with the Ioannou Family to create an institutional-quality hospitality platform focused on the lucrative Greek market.

Information on the Target

Donkey Hotels, a prominent hospitality company in Greece, currently owns and operates five luxury hotels, boasting a total of 834 rooms. Among these, the portfolio includes four iconic properties situated in Athens: Athenaeum Intercontinental Hotel, NEW Hotel, Semiramis Hotel, and Periscope Hotel, alongside NOUS Santorini Hotel located in Santorini. As part of a strategic initiative, Donkey Hotels aims to enhance its offerings and expand its reach within the Greek hospitality sector.

Industry Overview in Greece

Greece has consistently been a top destination for hospitality investment, recently maintaining its position among the top five European markets, as highlighted by the CBRE European Hotel Investor Intentions Survey 2025. This ranking is bolstered by robust tourism trends, with international arrivals reaching over 36 million and demonstrating nearly 10% growth in the past year alone. The country’s appeal is primarily driven by a diverse array of travel experiences, ranging from leisure to business tourism.

The luxury hotel segment in Greece is particularly vibrant, benefiting from increased traveler interest and high demand for quality accommodations. This surge is su