Bain Capital has sold the Cora Resort and Spa in Greece to Fattal Hotel Group for an undisclosed sum.
The global private investment firm said it has completed the sale of the five-star, 181-room resort in Afytos, Chalkidiki, to the Israeli hotel chain.
Bain Capital invested €24m to refurbish the asset into a five-star resort with expanded food, beverage, and wellness amenities. The Cora Resort and Spa opened in July 2023 following this repositioning.
Rob Mangan, operating partner at Bain Capital, said: “Together with our local Partners, we took a very hands-on approach at Cora, executing a major refurbishment and repositioning programme and then actively managing the operations to drive performance. The result is a high-quality, five-star resort in one of Greece’s most attractive leisure markets.
“This sale reflects sustained investor appetite for well-located, well-invested hospitality assets in Greece, and we are pleased to be handing the property to an owner with deep sector experience.”
Guy Vardi and Yaniv Amzaleg, M&A managing directors at Fattal Hotels, said: “Greece and the wider Mediterranean basin have shown exceptional performance in recent years, and expanding our footprint in this market remains a strategic priority. This asset, which will be rebranded as Meravia Hotel by Leonardo Limited Edition, represents a unique opportunity to introduce a high-end product in one of the most exciting hospitality markets today.
“Over the past three years, we have acquired more than 50 hotels across Europe and raised approximately €1bn through our European Partnerships to support our expansion strategy. We would like to thank Bain Capital for their partnership throughout this acquisition process as we continue to pursue new opportunities in Southern and Western Europe.”
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