The Sani/Ikos Group (SIG), a hotel group specialising in luxury resorts in the Mediterranean, and GIC, an international institutional investor, have announced the signing of a strategic partnership which is expected to begin in the fourth quarter of 2022. GIC will become the main shareholder alongside SIG's management team. The transaction values the group at €2.3 billion.
The three founders of SIG, Stavros Andreadis, Andreas Andreadis and Mathieu Guillemin, remain major shareholders and the latter two will continue to lead SIG as CEOs and Co-Managing Partners. Stavros Andreadis will become Honorary Chairman of the group.
Since its creation in 2015, GIC has quadrupled its hotel asset base and industrial scale with the support of leading investors, including Oaktree Capital Management, as well as Goldman Sachs Asset Management, Moonstone, Florac and Hermes GPE. As part of the transaction, these actors will sell their respective stakes to GIC.
This partnership will strengthen the group's resources in order to achieve its five-year investment plan of over €900 million.
We are pleased to partner the Sani/Ikos Group as they continue their efforts to strengthen their brand and expand their presence in Europe. The group’s assets are well-located and the team is known for providing excellent hospitality experiences. We believe this investment will generate resilient returns and is testament to our confidence in the Greek and wider European tourism sector over the long term.
Lee Kok Sun, Chief Investment Officer of Real Estate at GIC
Given its strong brand, we believe the Sani/Ikos Group is well-positioned to capitalise on the growth of the Mediterranean Europe resort market. We look forward to working with SIG’s management team to add value by enhancing existing assets and offering attractive resort accommodation in the region.
Tracy Stroh, Region Head of Europe of Real Estate at GIC
We are excited to welcome GIC on board and look forward to bringing the Sani/Ikos Group magic to guests across the Mediterranean and beyond. Over the past years, the Sani/Ikos Group has led a remarkable path, with significant investments, international expansion and strong financial performance. This was achieved despite the pandemic and thanks to the support of our shareholders, who were outstanding partners, and to our management and employees whose dedication and talent are second to none in our industry. We can now solidify our leading position across the Mediterranean, to the benefit of our shareholders, our people and the communities where we operate.
Andreas Andreadis & Mathieu Guillemin, CEOs of the Sani/Ikos Group