Azora European Hotel & Lodging fund acquires hotel resort in Greece
Azora, the Madrid-based European real estate investment manager, has acquired the Sheraton Rhodes Resort in Greece on behalf of its Azora European Hotel & Lodging (Azora EH&L) fund. The seller was Lampsa Hellenic Hotels, a Greek company engaged in the establishment, operation and management of hotel complexes.
Azora EH&L closed in late 2021 with €815 million ($831 million) of total commitments, in addition to some co-investment capital. The fund invests in European tourism and will focus both in traditional beach and mountain destinations, as well as in main European tourist cities.
The Sheraton Rhodes Resort will continue to be operated by Marriott and offers 401 rooms, most of which have waterfront views, and a range of premium facilities, such as exterior swimming pools, an interior spa with an indoor swimming pool, a kid’s club, sports and leisure facilities