ATTICA GROUP CONTINUES TO EXPAND IN THE HOSPITALITY SECTOR

Investment of € 14 million for the acquisition of a second hotel in Naxos, Greece

Attica Holdings S.A. (Attica Group), in line with the implementation of its strategic development plan, concluded the acquisition of a second hotel complex in the island of Naxos, Greece, further expanding its presence in the particular geographic area.

Attica Group, through its subsidiary company Attica Blue Hospitality, acquired 100% of the share capital of the parent company of Galaxy Hotel, which is adjacent to Naxos Resort Beach Hotel, located in Agios Georgios. The total investment amounted to Euro 14 million and was financed through equity.

The newly renovated complex of Galaxy Hotel, originally built during the year 1990, covers a total area of 6,035 square meters and has 54 rooms, 104 beds, swimming pool and other auxiliary facilities.

The above investment is part of the Group’s broader expansion plan on the island of Naxos that commenced in 2021 with the acquisition of Naxos Resort Beach Hotel. The latter along with the newly acquired Galaxy Hotel will be operating as consolidated unit.

The Group has also completed the purchase of neighbouring land plots, having created a total area of approximately 2 hectares at this stage. Following the latest acquisition, Attica Group currently operates in the island of Naxos a hotel business with 142 rooms and 286 beds in total. Through further development in the near future, the Group aims to reach a capacity of 200 rooms and 500 beds, always with respect to the character of the island and with a vision to protect the natural environment. The overall planning of the project aims to create one of the largest hotel complexes in the island of Naxos and to generate significant shareholder value for the Group.

Mr Panos Dikaios, Chief Executive Officer of Attica Group, stated: "Our expansion in the hospitality sector via the operation of two hotels in Naxos and one hotel in Tinos has set the foundations for the provision of integrated services to our customers as well as for the creation of added value through synergies. Furthermore, our investment plan strengthens the local economy and contributes to the tourism development of the country. Attica Group continues to expand its presence in the broader tourism industry through acquisitions and investments in other Greek islands as well."