Goldman Sachs Reportedly Exits Greek Hotel Venture After Major Setbacks

Goldman Sachs Reportedly Exits Greek Hotel Venture After Major Setbacks

Goldman Sachs has reportedly pulled out of a

Goldman Sachs’ Hotel Venture in Greece Scrapped

Goldman Sachs sold the three hotels to Sani/Ikos Group. Credit: Sani/Ikos Group Goldman Sachs sold the three hotels in Halkidiki that it had bought in 2022 as it tried to create a seaside resort brand in Greece and around the Mediterranean. As the Wall Street Journal (WSJ) reports, Goldman Sachs bought the hotels, with plans to spruce them up and start welcoming guests as soon as this year. Tourism in the country was on a tear, and the bank saw …

Goldman Sachs Abandons Greek Hotel Project Amid Mounting Corruption, Bureaucracy - Helleniscope

By Helleniscope’s Editorial Staff Global investment giant Goldman Sachs has scrapped its ambitious plan to build a high-end hotel brand in Greece, citing severe bureaucratic entanglements, regulatory bottlenecks, and what insiders describe as a “nightmare” of corruption and inefficiency across local and national government agencies. Originally hailed as a vote of confidence in Greece’s recovering […]

Goldman Sachs Sells Out, Sani/Ikos Seizes Greek Luxury Hotels

Manuel Santos Sani/Ikos Group acquired Greek luxury hotel assets from Goldman Sachs, a move hinting at changing tides in high-end tourism. The post Goldman Sachs Sells Out, Sani/Ikos Seizes Greek Luxury Hotels appeared first on Argophilia.

WSJ: Goldman abandons Greek hotel investments

Goldman Sachs has sold three seaside resorts it bought in northern Greece in 2022 at a low price, barely breaking even on the roughly €100 million it had invested in the project, according to the Wall Street Journal on Sunday which cited people familiar with the matter.