Equity entry of one of the largest international institutional investors, the Singapore Sovereign Wealth Fund GIC, was secured Greek hotel group Sani/Ikos. For the deal, which involves the planned seven-year sale of Oaktree, Goldman Sachs Asset Management, Moonstone, Florac and Hermes GPE, the Sani/Ikos group was valued at $2.3 billion. These investors have now been replaced by GIC as the majority shareholder, while its founders Stavros and Andreas Andreadis and Mathieu Guillemin remain in the group as well as the management. According to market sources, the exit of investment funds was carried out with a very large capital gain, which highlights it as one of the most successful investments in Greece. It is characteristic that seven years ago, in 2015, when investors entered its authorized capital, the group’s turnover was about $88 million. Today, seven years later, which is a typical length for the investment horizon of such funds, the group is expected to end fiscal year 2022 with sales of 319 million, almost four times the turnover. At the same time, he also quadrupled his assets. It is worth noting that according to sources “K”this year, hotel occupancy for the entire season, i.е. from April to October, is about 95%, and in terms of indicators, it exceeded the figure for 2019 by 57%, but also with one hotel.

More important, however, is the fact that under the agreement, the Sani/Ikos group finds in GIC the partner it needs to launch its new development plan with a budget of 900 million with a completion horizon of 2027, which aims to further increase its financial performance and its presence in the Mediterranean luxury hotel market. From 2015 to date, the Greek group has added 3,600 new employees and with the new investment plan, another 2,900 employees are expected to be added within five years.

GIC is a leading international investment fund founded in 1981 to secure Singapore’s economic future. He does not publish the amount of funds he manages, but according to Global SWF, his funds are valued at $799 billion, while he is Singapore’s foreign exchange reserve manager. He is a long-term investor and his portfolio includes various asset classes and active investments around the world such as equities, fixed income, real estate, private equity, venture capital and infrastructure.

The group was valued at $2.3 billion – its five-year development plan is 900 million euros.

The Greek group, through its brands Sani Resort and Ikos Resorts, develops and manages over 2,750 rooms in 10 private hotel complexes in Greece and Spain. The company secured four new investment projects (1,578 rooms) to expand the Ikos brand in Greece (Corfu, Crete), Spain (Mallorca) and Portugal (Algave), scheduled to launch in 2023 (Corfu and Mallorca), and two others before 2025 . It is worth noting that the new property in Corfu, which will open in 2023, already has a reservation corresponding to 30% occupancy… The aim of the group is to further expand Sani & Ikos Resorts with other prestigious locations in Greece and abroad. .

“The new strategic alliance with GIC will further bolster the resources needed to deliver on Sani/Ikos Group’s ambitious 5-year investment plan of over €900 million, which will help support the local economy and create new jobs in the Mediterranean,” the statement said. company management.

The Sani/Ikos Group continues to be managed by Andreas Andreadis and Mathieu Guillemin as Managing Directors and Co-Managing Partners, with Stavros Andreadis becoming Group President Emeritus.