A new big player in the hotel sector, called Donkey Hotels, has been formed in Greece with the absorption of YES! Hotels by Atheneon SA (Intercontinental), both belonging to the Ioannou family. The new company will focus on takeover opportunities and replacement of existing hotel units in urban centres and the development of new hotels in popular destinations.
The Ioannou family will control more than 94 pct of the new company and will manage the hotels Atheneon Intercontinental, Semiramis, NEW Hotel and Periscope. In the spring of 2022, the company will begin operating a new hotel in Santorini with 121 rooms (half of which with private pools), raising its total capacity to 836 five-star rooms in 2022.