SMERemediumCap: Entered into an acquisition agreement for the Patmos Aktis Suites hotel

In an agreement for the acquisition of 100% of the shares of the company that will be established through a contribution of the divested activity of the hotel Patmos Aktis Suites & SPA (“Patmos Aktis”) from the company HOTEL KOS SA, interests of Nikolaos Pouliou, the Investment SMERemediumCap Fund (“SMERC”) has proceeded, according to a relevant announcement.

The seaside hotel originally operated as XENIA and today, is the only five star hotel on the sacred island of Patmos, an island in the Dodecanese, which is known as a UNESCO World Heritage Site, with historical significance, centuries-old religious tradition and architectural uniqueness. Patmos Aktis is located on one of the most beautiful locations in the Aegean, in the bay of Grikos, on the southeast side of the island.

Venue upgrade

SMERC aspires to upgrade the quality and expand the hotel’s hospitality infrastructure, significantly increasing the capacity of its 175 beds today. In addition, it is planned to add traditional building elements of Patmos to the buildings and the surrounding area, further highlighting the architectural and cultural characteristics of the island. The goal is to harmonize the venue with the natural environment, ecology and the local community and its people, so that Patmos Aktis is a unique place of rest, hospitality and tranquility.

“Our vision is, in the coming years, Patmos Aktis to be established among Greeks and foreign visitors, as one of the most unique, quality, beautiful and unique destinations in the Mediterranean. This specific investment of a total of € 17 million, takes advantage of the dynamic increase in demand in the hospitality sector in recent years, which had been significantly affected by the pandemic. It is another practical example of our Fund’s mission, to invest in Greek productive enterprises with a perspective of dynamic development and opportunities to provide quality services, adding value to all involved and, at the same time, creating new economic opportunities and capabilities for the local community and Greek economy “says the President of SMERC, Nikos Karamouzis.

“The family of Nikolaos Poulios, creator of Patmos Aktis, whom we thank warmly for the cooperation, will continue to support the project, helping with the valuable experience and knowledge of the industry and the region”, concludes Mr. Karamouzis in his statement.

The transaction is expected to be completed within the near future and the hotel will be operating normally from June 3.