Information on the target
EXTENDAM has successfully acquired both the freehold property and business operations of the Radisson Blu Zaffron Resort Santorini, a luxurious 103-room five-star resort situated on the picturesque island of Santorini, Greece. This acquisition was executed through a hotel-focused SME structure and in partnership with Redcliffe Capital, an independent sponsor dedicated to Greek hospitality investments. The resort is operated by Mitsis Group, the largest privately owned hospitality group in Greece, ensuring a robust operational framework.
The Radisson Blu Zaffron Resort, built in 2021, is a newly developed asset that is in excellent condition and does not require any immediate capital expenditure. The resort boasts a variety of premium amenities, including multiple swimming pools, a private beach, a spa, a fitness center, and several food and beverage outlets that are currently underutilized. The investment strategy will focus on enhancing these offerings to unlock additional revenue potential.
Industry overview in the target’s specific country
The Greek hospitality market is characterized by its resilience and growth, driven by sustained travel demand and an extended operating season. Santorini, in particular, is one of the Mediterranean's most sought-after destinations, known for its stunning landscapes and vibrant culture. The island's hospitality sector benefits from a supply-constrained environment, particularly following the introduction of restrictions on new building permits in 2020, which has further solidified the value of existing hotel assets.
As of April 2026, the overall performance of the Greek hospitality market has shown promising signs, with Revenue Per Available Room (RevPAR) reaching €93.10, reflecting a 2.2% increase compared to the previous year and a 4.5% increase compared to 2024. This upward trend indicates a healthy demand for accommodations across the country, supported by the ongoing enhancement of service quality and facilities.
Moreover, the strategic location of the Radisson Blu Zaffron Resort Santorini, just 250 meters from the sea and in close proximity to the vibrant village of Kamari, enhances its appeal to international travelers. With excellent accessibility to Santorini International Airport and other key locations, the resort is well-positioned to capture a significant share of the tourist market.
The rationale behind the deal This acquisition aligns with EXTENDAM's investment strategy, which emphasizes high-quality assets in European hospitality markets with strong fundamentals. The Radisson Blu Zaffron Resort Santorini represents a unique opportunity to capital…