What's Happening?
Brookfield, through its private real estate fund, has entered a joint venture with Domes to acquire a majority stake in the Domes Zeen Chania hotel in Crete, Greece. The partnership involves an investment
of over €40 million to expand the 105-key beachfront resort, which is part of Marriott's Luxury Collection. Brookfield, known for its extensive experience in the hospitality sector, aims to enhance the resort's amenities and explore further investment opportunities in the Greek hospitality market.
Why It's Important?
This joint venture marks Brookfield's first investment in the Greek hospitality market, highlighting the region's potential for growth and development. The expansion of Domes Zeen Chania is expected to boost local tourism and economy by attracting more visitors to Crete. The collaboration between Brookfield and Domes signifies a strategic move to leverage Brookfield's expertise in hospitality to enhance the resort's offerings, potentially setting a precedent for future investments in Greece's tourism sector.
