Fattal Hotel purchases Cora Resort in Greece from Bain Capital

Core Insights - Fattal Hotel Group has acquired Cora Resort and Spa, a five-star, 181-room property in Greece, from Bain Capital, reflecting a strong investor interest in well-located hospitality assets [1][4] - The acquisition follows a €24 million ($28 million) refurbishment program aimed at repositioning the property as a premium destination [1] - Fattal Hotels operates over 320 hotels across more than 120 destinations globally, indicating a significant presence in the hospitality sector [2] Investment and Management - Bain Capital's Special Situations team managed the investment, which included asset origination, redevelopment, operational oversight, and exit strategies [1] - The hotel features multiple restaurants, bars, and a dedicated wellness center, enhancing its appeal as a luxury destination [2] - Active operational management post-opening in July 2023, including a management transition in 2024, has led to improved performance [2][3] Market Trends - The sale of Cora Resort highlights sustained investor appetite for high-quality hospitality assets in attractive leisure markets like Greece [4] - Fattal Hotels' M&A managing directors emphasized the exceptional performance of Greece and the Mediterranean region, marking it as a strategic priority for expansion [4] - Bain Capital's investment in the European hospitality sector, including a recent investment in French boutique hotel group Les Hôtels de Paris, indicates a broader strategy to capitalize on growth opportunities in this market [5]