Procopiou Takes Full Ownership of Astir Palace Hotel Group
While the price paid for the final 77% hasn’t been disclosed, it’s speculated that Procopiou paid a premium for full control. This comes after substantial returns to shareholders from the sale of 13 ultra-luxury villas built on the former Aphrodite hotel site, reportedly totaling €450 million. Published financial statements indicate €317 million in returns over the past three years: €160 million in 2021, €37 million in 2022, and €120 million in 2023.
