Another bundle of major hospitality and resort investments are on the horizon, namely, in the western Aetolo-Acarnania prefecture along the Ionian Sea, the tiny Petalioi islets off southwest Evia, Porto Heli, the large island of Crete, Halkidiki prefecture in northern Greece and the greater Athens area. The additional investments confirms the trend over the recent years of a highly attractive market for Greek tourism.

Many of these new ventures are linked to well-known international luxury, some entering the Greek market for the first time.

Varko Bay Vonitsa

In Vonitsa, Aetolo-Acarnania, the Varko Bay resort is emerging as the first ultra-luxury retreat by Banyan Tree in Europe. Set to open in 2025, this massive property development will be situated on the Varko peninsula in the municipality of Aktio-Vonitsa on the coastline of Western Greece, with aspirations to transform the region’s tourism profile.

The five-star resort, by RND Investments Greece with Dutch financial backing, will comprise 116 villas and 45 branded residences. Additionally, Varko Bay will feature three dining establishments, bars, and a marina designed to accommodate yachts up to 40 meters in length.

Athens

By 2027, Greece will welcome its second Mandarin Oriental, following last year’s launch at Costa Navarino. This new property, set within the Athens Riviera at Elliniko development—a collaboration between TEMES and Lamda Development—will feature 123 rooms. Additionally, the venture includes another hotel with 200 rooms and 49 residences.

Simultaneously, the Hard Rock Hotel & Casino Athens is slated to open at Elliniko. This €1.5 billion venture, a collaboration between Hard Rock International and GEK TERNA, will boast a hotel with 1,000 rooms.

Halkidiki

In Halkidiki, the Diaporos Island project is emerging as a notable development, scheduled to launch in the summer of 2026 under the auspices of STANDA SA Real Estate Management. The site, encompassing over 96 acres, will host a luxurious five-star hotel.

This high-end establishment is being designed with a strong emphasis on environmental sensitivity and minimal impact, ensuring that it harmoniously blends with its natural surroundings.

Peloponnese Riviera

On the Peloponnese Riviera, two prominent hotel projects are set to make a significant impact. The Six Senses Porto Heli is scheduled to open in 2026. The hotel will achieve LEED Silver certification and will offer 60 rooms and suites, each with private pools and gardens. In addition, 10 branded villas, ranging from 5 to 8 bedrooms, will be built and made available for purchase.

Also slated for 2026, Porto Heli will debut Greece’s first Waldorf Astoria Hotel & Resort. This project will feature a five-star hotel alongside luxury residences.

Pelatioi Islands

Six Senses is set to expand its footprint to Pelatioi Islands, located in the southern Evoikos Gulf off the southwest of Evia. Grivalia plans to develop 75 ultra-luxury villas and 20 branded residences on the islands.

The project’s amenities include restaurants, wellness and fitness facilities, and a beach club, designed to deliver premium services to its guests. The first phase of this development is slated for completion by 2025.

Crete

In Crete, the Ikos Kissamos stands out as the latest major five-star resort from the Sani/Ikos Group. This significant investment by Sani/Ikos will be developed on a 200-acre site in Kissamos Bay, nestled on the northwest coast of Crete. The new resort will span 203 acres and feature 414 rooms, suites, and bungalows, with a total capacity of 1,280 beds.

Set to commence operations in the 2025 season, Ikos Kissamos is expected to create over 750 new jobs.