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Asteras Vouliagmenis Acquisition
A Greek consortium acquired a stake in the luxury Asteras Vouliagmenis hotel complex, highlighting significant investment and a high room price.
Greek
Greece
SportsInvestmentGreeceReal EstateAcquisitionLuxury Hotel
Asteras VouliagmenisDogus GroupFour Seasons Hotels And ResortsApollo Investment Holdco S.a.Agc Equity Partners
George ProkopiouFerit Sahenk
- Who was the seller of the one-third stake in Asteras Vouliagmenis?
- The seller was the Turkish Dogus Group, which held a 33.75% stake. Prior to the sale, significant capital returns to initial shareholders had been made from the sale of 13 luxury residences, totaling \u20ac450 million.
- What was the purchase price of the one-third stake in Asteras Vouliagmenis?
- A consortium led by Greek shipowner George Prokopiou acquired a one-third stake in Asteras Vouliagmenis, a luxury hotel complex in Athens, for \u20ac150 million. The deal values the holding company, Apollo Investment Holdco S.A., at \u20ac450 million.
- Describe the privatization process and investments made in Asteras Vouliagmenis.
- Asteras Vouliagmenis was originally privatized in the early 2010s. The current owners, who won a bid in 2019, invested over \u20ac650 million in renovations and development, including a public offer to delist the company and debt financing.
- What is the history of Asteras Vouliagmenis, including its development and key features?
- The Asteras complex, originally opened in the late 1950s, has undergone significant renovations and expansion since 2017, and now includes two Four Seasons hotels, a marina, restaurants, and retail spaces. Its beach is considered one of the finest in Attica.
- What is the average price per hotel room at Asteras Vouliagmenis, and what does this indicate?
- The average price per hotel room in the Asteras complex is approximately \u20ac1.5 million, among the highest globally. This high price reflects the luxury nature and prime location of the property.