Investments of five million euros are on track to be completed this year in the Porto Carras Estate winery, followed by a new investment package of around 3 million euros for the restructuring of the vineyards and the Estate’s olive groves over a five-year horizon.
Investments are also underway to transform the energy operating model of the Porto Carras Grand Resort, as well as investments to upgrade the golf courses and the marina, both of which are expected to be completed within the year, while the large investment plan – amounting to several tens of millions of euros – for the development of the Resort will have been finalized by the end of the year.
As the CEO of Porto Carras Grand Resort, Sergei Smirnov, pointed out to “N”, there is a ten-year development-investment plan and the investments will be implemented in two phases: investments in infrastructure restoration and upgrading of the customer experience and in the next phase investments in the development of the Resort.
First of all, the aforementioned investments in the winery concern its reconstruction – always with respect for its special Bauhaus architecture as well as the installation of modern equipment and the restoration of the vineyards. For the restructuring of the vineyards and olive groves of the Estate, another three million will be allocated in the next five-six years with an emphasis on optimal efficiency given climate change and crisis, and there is collaboration with the Aristotle University of Thessaloniki, the University of Athens, the American Agricultural School and other experts.
This year, also, according to Smirnov, an investment of nearly one million euros will be completed in the marina of Porto Carras Grand Resort, while by the fall, an investment of 600,000 euros for the upgrade of the golf facilities will be completed. In the meantime, an investment of more than one million euros has also been implemented in photovoltaic panels with innovative software and an additional investment for the rehabilitation of the desalination facilities, as part of the company’s focus on reducing its carbon footprint.
Consultations with leading architects
Furthermore, the Resort management is in consultation with leading architects and financial advisors to finalize by the end of 2025 the large investment plan for the development of the Resort, which will be worth tens of millions of euros and will certainly include a real estate component with the construction of a villa complex, the upgrade of the SITHONIA hotel, etc.
At the MELITON hotel, investments have been made to renovate the building, the swimming pool, energy, etc., while the optimal upgrade option is being considered for SITHONIA. When it is put back into operation, there will also be a differentiation of the common areas to which each of the two units is addressed, e.g. MELITON will be addressed to VIP clients and golfers, and SITHONIA to families.
Regarding the recent assignment of the management of the MELITON hotel and golf course to SWOT Hospitality, as Snirnov noted, “we expect our partners to establish, develop and maintain the highest quality standards in the hospitality industry. This will also allow the company’s management to focus on strategic goals for the development of Porto Carras.”
