In October 2018, Invel acquired a 70.4% indirect shareholding in Nikki Beach, a five-star hotel with 66 rooms and suites (more than 50 square meters and 65 square meters on average), beach club, two restaurants, a gym and a spa in the Bay of Porto Heli, Greece. In January 2019, Invel increased its stake to 82.5%.
Following acquisition a c. 50% LTV financing was arranged resulting in a significant equity distribution in May 2020.
The Nikki Beach franchise was retained to allow adequate time to explore alternative franchises, a CapEx program to reposition the property and a well organised relaunching to signify the changes and improvements. Moreover, further attention was put on the food and beverage and events organization as a mean to generate additional revenues. Following Invel’s acquisition a new boutique hotel operator was put in place, who with Invel’s guidance and capital commitments, has successfully operated the hotel for the 2019 and 2020 seasons.
Invel is currently undertaking a significant capex program to further drive F&B revenues both on Nikki Café and pool area as well as with its strategic initiative to partner with Hytra, the most renowned Michellin starred restaurant in Greece, for the re-imagining of the Roof top restaurant.
Date of Project