Bain Capital, a leading global private investment firm, today announced the completion of the sale of Cora Resort and Spa, a five-star, 181-room resort in Afytos, Chalkidiki, Greece, to Fattal Hotel Group.
The investment was managed by Bain Capital’s Special Situations team in Europe and showcases the firm’s hands-on asset management capabilities in hospitality, spanning origination, development, operations and exit.
Bain Capital led a substantial refurbishment and repositioning of the hotel, supported by a €24 million investment programme, transforming the asset into a five-star destination resort with multiple restaurants and bars and a dedicated wellness centre. The property opened in July 2023 and has benefited from active operational oversight, including a management transition in 2024 that improved overall performance.
Rob Mangan, an Operating Partner at Bain Capital, said: “Together with our local partners, we took a very hands-on approach at Cora, executing a major refurbishment and repositioning programme and then actively managing the operations to drive performance. The result is a high-quality, five-star resort in one of Greece’s most attractive leisure markets. This sale reflects sustained investor appetite for well-located, well-invested hospitality assets, and we are pleased to hand the property to an owner with deep sector experience.”
Guy Vardi and Yaniv Amzaleg, M&A Managing Directors at Fattal Hotels, said: “Greece and the wider Mediterranean basin have shown exceptional performance in recent years, and expanding our footprint in this market remains a strategic priority. This asset, which will be rebranded as Meravia Hotel by Leonardo Limited Edition, represents a unique opportunity to introduce a high-end product in one of the most exciting hospitality markets today. Over the past three years, we have acquired more than 50 hotels across Europe and raised approximately €1 billion through our European partnerships to support our expansion strategy. We would like to thank Bain Capital for their partnership throughout this acquisition process as we continue to pursue new opportunities in Southern and Western Europe.”
Bain Capital has extensive experience across hospitality at both the corporate and asset level, with a European track record of 8,200 keys across 54 properties in seven countries.
