Zetland Capital Acquires the Lindian Village Hotel Real Estate Properties in Rhodes, Greece
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Date: March 2022
Name: Lindian Village
Location: Lindos Acropolis, Rhodes, Greece
Number of Keys: 188
Seller: Svyriadis SA, a Greek family-owned hospitality conglomerate
Buyer: Zetland Capital, a private equity firm based in London
Zetland Capital Partners LLP, a London based private equity firm today announced that funds under its management have acquired the hotel properties of Lindian Village, a 5-star resort in Rhodes Greece for an undisclosed consideration from Svyriadis SA, a Greek family-owned hospitality conglomerate.
The properties have been acquired on a vacant possession basis and feature a mix of 188 luxury rooms & suites situated in a prime Blue-flag waterfront location near the Lindos Acropolis of Rhodes. Zetland plans to invest in a major renovation program to reposition and relaunch the hotel properties under an international brand.
Ahmed Hamdani, Managing Partner at Zetland said: “We are delighted to have partnered up with the Svyriadis family to complete our first hospitality transaction in Greece. This acquisition underpins our investment strategy to invest in well located hotels in prime Mediterranean destinations and work with strong local partners, like SWOT Hospitality to capitalise on the post-COVID demand for hospitality services.”
Five restaurants and three bars are available to guests, such as the Greek restaurant Gourmet for authentic cuisine, the Fish & Oyster Restaurant for fresh seafood dishes or the Thai restaurant for Asian-Thai delicacies. And of course a full spa. Wellness facilities include an indoor pool with a hot tub, a sauna and a Turkish bath and services for water sports.
Zetland Capital Partners were advised by SWOT Hospitality (business planning), Arbitrage (technical consultant and project manager), KBA Law (legal), HVS (commercial), E&Y (financial and tax due diligence). Argenta assisted Zetland in raising acquisition and CapEx financing. Eurobank is providing all debt facilities to support the acquisition and repositioning plan for the properties. SWOT Hospitality will undertake the new management of the properties. Svyriadis SA was advised by Bilianis Law Firm (legal) and Panaxia LLP (financial advisor).
Price: Around €27m
Price Per Key: €145k
THPT Comment: Zetland are gradually building up a good portfolio of hotels across Europe…well done
First Seen: Zetland press release
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