Domes Resorts secures deal to expand Crete property

Domes Resorts has secured a €40 million investment to expand its Crete property Domes Zeen Chania.

The hotel group has partnered with Brookfield Asset Management Ltd to fund the expansion, with Brookfield acquiring a majority stake in the 105-key resort.

The partnership marks the asset management company’s first investment in Greece, having previously expanded a number of hospitality platforms across Europe, including Experimental Group. 

George Spanos, chief executive of Domes Resorts, said: “We’re pleased to enter a joint venture with one of the world’s leading global real estate investors. With Domes now a stabilised platform supported by a strong brand, we look forward to working with Brookfield to embark on our next phase.”

Brad Hyler, managing partner and co-president of Brookfield’s Real Estate Group, added: “We’re excited to invest in Domes Zeen Chania and partner with Domes to expand and further amenitise the resort. 

“This marks our first investment in the Greek hospitality market, and we look forward to working with the Domes team and exploring additional investment opportunities in the future.”

Further details of the resort’s growth are to follow.