Greek shipping magnate George Procopiou has secured full ownership of the Astir Palace Vouliagmeni hotel in southern Athens.
Located on the Lemos Peninsula, the acquired assets comprise two Four Seasons hotels - including the Four Seasons Astir Palace in Vouliagmeni - with the combined number of rooms totalling 303. Thirteen ultra-luxury villas are also being developed on the site.
In October 2024, Procopiou acquired 33 per cent of the resort from Turkish Dogus Group for €150 million and has now acquired the remainder stake from Jermyn Street Real Estate Fund. The €150 million purchase of the 33 per cent stake indicates an average price per room of around €1.5 million as at October.