Greek Market Report
Hotel Investments 2024 – 2027

HotelBrain Group | Panos Palaiologos, Founder

Panos Palaiologos
Founder

HotelBrain Group

At the beginning of 2023 the Hotel Brain Group set a goal for a new and ambitious growth cycle that will lead HotelBrain to manage 20,000 rooms and 1,5 million guests annually, within the next five year period. In addition to that, 2023 saw the completion of the first year of operations of the model HotelBrain Academy and Lifelong Learning Center (LLC). The HotelBrain Group, pinpointing significant shortages in the labour market, proceeded to the establishment and operation of the HotelBrain Academy, whose aim is to pass on the Group’s 20 years of experience and contribute to the required training, knowledge and expertise required by tourism industry employees and pave the way for professional opportunities within the Group and across the tourism sector in general.

HotelBrain is the largest hotel Group in Greece, with over 100 privately owned through long term leases – hotels, with a combined capacity of approximately 7,300 rooms in more that 39 destinations throughout Greece. As a group widely recognised for providing solutions for hotel properties, it offers owners a wide range of services, whether institutional or private investors, in order to aid them in optimising the use of their hotel units and increasing their value. It provides a full range of services – from hands-on development and hotel management consultancy to full third party management, as well as the provision of short and long term solutions.

HotelBrain welcomed 2024 with agreements for 7 new hotels, while 2023 saw its turnover close at all-time high levels, exceeding 100 million euros. For 2024 forecasts show a 20% increase in turnover, as at least 10 more hotels will be added to the Group’s portfolio. In fact, deals have already been signed for five hotels whose properties will be delivered to the Group in the next two months, while there is a pipeline of 15 more hotels.

It is worth noting that HotelBrain has surpassed the record number of 100 leased hotel for the first time – a number that rises steadily as HotelBran adds new units – and most importantly – new destinations to its portfolio. Furthermore in 2024 HotelBrain will aim to surpass 1 million unique visitors.

In addition, in 2023 the Group employed approximately 3,000 people at its headquarters and hotel properties, with over 200 employees working year-round rather than seasonally. In 2024, the Group expects to enlarge its talent pools with more that 3,300 new employees.

As for the newly established HotelBrain Academy, currently in its second academic year, its first graduates held various positions in HotelBrain portfolio Hotels in the summer of 2023, utilizing their knowledge and gaining further work experience. In the academic year 2023-2024, 150 young hotel industry professionals are expected to graduate and work in HotelBrain properties, while it is estimated that more than 300 individuals will attend HotelBrain-held hotel training seminars.

Gundari, Folegandros: A 2024 opening
under HotelBrain International management