Leonardo Hotels & Resorts Mediterranean, an Israeli hotel chain, is making significant strides in its expansion in Greece with an investment totaling over 150 million euros. The company plans to open its fifth hotel in the country, the Meravia – Leonardo Limited Edition, in Chalkidiki in the spring. This marks a crucial step in strengthening their presence in the region, coinciding with the recent acquisition of Cora Resort from Bain Capital, which is undergoing upgrades costing over 45 million euros.

The addition of Cora Resort to its portfolio not only showcases Leonardo Hotels & Resorts Mediterranean's aspirations but also brings its total investments in Greece to over 150 million euros. This strategic move aims to position the company as a significant player in the Greek hospitality sector. The management of Leonardo plans to continue its growth trajectory by establishing a total of 16 hotels in Greece and Cyprus by 2026, indicating their long-term commitment to these markets.

This expansion aligns with the broader trend of international investment in Greek tourism, which has been on the rise due to the country's appeal as a travel destination. For Leonardo Hotels & Resorts Mediterranean, this investment reflects confidence in Greece's tourism recovery and potential for growth, especially targeting the upscale market.