Greek Market Report
Hotel Investments 2024 – 2027
Meliá Hotels International | María Zarraluqui, Vice President – Global Development
María Zarraluqui
Vice President – Global Development
Meliá Hotels International
From Meliá Hotels International’s perspective as both managers and franchisors, our commitment to positioning our brands in the country’s premier vacation destinations remains unwavering. This includes traditional hotspots on the main islands as well as emerging destinations where we can leverage our six-decade-long expertise in developing new vacation hubs across the Caribbean, the Mediterranean, Asia, and Africa. Moreover, we recognize significant potential in various locations within the Peloponnese and the Athenian Riviera, not to mention Halkidiki. Our adeptness at infusing urban destinations with our unique “bleisure” character is exemplified by our continuous focus on Athens and Thessaloniki.
In terms of our brand portfolio, we boast a diverse range capable of catering to all segments in both vacation and urban settings. While our luxury brands, such as Gran Meliá, ME by Meliá, and Paradisus, hold immense market potential, offering a blend of traditional and contemporary luxury, our soft brand, The Meliá Collection, further broadens our offerings, often with boutique inventories, allowing us to maximize the advantages and synergies inherent in our operations.
One brand of particular significance, especially in Greece, where it embodies the epitome of the Mediterranean image, is ZEL, our joint venture with tennis legend Rafa Nadal. With ZEL, we’ve successfully expanded to Mallorca, Catalonia, and Mexico, and are poised to venture beyond vacation destinations into prime urban locations, exemplified by the forthcoming ZEL Madrid, set to grace the renowned Gran Vía.
Our brand portfolio also features other premium brands like Meliá Hotels & Resorts, a flagship brand with a presence in major capitals across both urban and vacation destinations. Additionally, INNSiDE by Meliá, a dynamic and profitable brand catering to the affordable lifestyle segment, is primed to secure ideal locations in the near future. Not to be overlooked is the iconic SOL by Meliá, catering specifically to family vacations. Stay tuned for the unveiling of a new image that will revolutionize vacation tourism.
In an increasingly competitive and globalized market, Meliá leverages its distribution capabilities, commercial agreements, and international positioning to ensure that each owner and operator achieves maximum profitability. An advantage of our group is our investment partners, who actively participate in transactional processes, whether focusing on individual assets or acquiring portfolios or hotel groups to penetrate the market further. While recent seasons witnessed success in many Mediterranean destinations, we’ve noted stabilization—and even a decline—in business volume in some areas over the past year, particularly in Greece. This has led to notable decreases in average prices, prompting us to anticipate a rationalization of prices in the medium term as investors seek opportunities for asset repositioning, factoring in CapEX investment considerations to ensure operational profitability.
We eagerly anticipate unveiling the projects we’re currently working on throughout the year. Stay tuned for exciting updates.