Former Xenia in Paleokastritsa to be converted into restaurant and four luxury suites
CORFU. The iconic property owned by ETAD (Hellenic Public Properties) has been leased to the company Akrotiri Beach Paleokastritsa S.A.
The company Akrotiri Beach Paleokastritsa S.A. aims to transform the former iconic property 'Xenia' in Paleokastritsa to develop and further enhance the area. The company was the sole bidder in the online auction conducted by ETAD (Hellenic Public Properties) for the lease of the historic building constructed in 1932. The three-story property, with a total area of 498.23 square metres, currently dilapidated on the central beach of Paleokastritsa, is expected to undergo a complete renovation and is set to open its doors in the summer of 2024 in its new form.
Restaurant to open in new season
According to the head of Akrotiri Beach Paleokastritsa S.A., efforts are being made to start operating the restaurant that will be developed on the ground floor of the building in the upcoming tourist season. He said that the facility will be open all day to welcome visitors, and in the evening, it will offer a more gourmet experience.
The eight rooms are expected to be transformed into four comfortable luxury suites with a view of the turquoise waters of Paleokastritsa bay. However, the suites are not expected to be ready this summer, and those interested will have to wait until the following year, 2025, to plan their vacations there.
Work to begin as soon as possible
The intention of the company that leased the property for 15 years with the option of a further 15-year extension is to commence the works as soon as possible, provided that the necessary permits for extensive interventions in the building are granted. The annual rent amounts to 75,000 Euros, and the anticipated investment in the area is expected to be substantial. This significant landmark for the area is expected to be transformed into a new high-level infrastructure, adding to the broader development of the area.
Since 1936
The family that comprises the company has a long and rich history in the hotel industry since 1936, with three more hotels in Paleokastritsa - Zephyros, Apollo, and Akrotiri. The ambition of the fourth generation of hoteliers is now, through this investment, to contribute to the tourist development of Paleokastritsa, which serves as a magnet for thousands of tourists every summer.
MARIA BAZDRIYIANNI
Photo: ETAD
