Accor, Fosun to Open New Hotels in Greece in 2022 as Foreign Interest Grows

French multinational Accor and China’s Fosun Tourism Group are set to expand their hotel portfolios in Greece, with new units scheduled to open in 2022, according to local industry sources.

Accor chairman and CEO Sebastien Bazin visited Greece this week for the official launch of Athens Capital, a new hotel under the French chain’s brand in a property owned by Lampsa Hellenic Hotels. Accor currently operates seven hotels in Greece: four in Athens (Athens Capital Hotel MGallery Collection, Novotel Athenes, Sofitel Athens Airport, and Ibis Styles Athens Routes) and three elsewhere (Angsana Corfu Resort & Spa by Banyan Tree on Corfu, Mercure Rhodes Alexia on Rhodes, and Ibis Styles Heraklion Central on Crete).

For 2022, Accor has scheduled the opening of Niko Seaside Resort Crete MGallery at Agios Nikolaos in eastern Crete. Additionally, its strategic investment framework includes three more units: two on Mykonos (Raffles and Fairmont) and Banyan Tree Varko Bay in Aitoloakarnania, western Greece.

Fosun Tourism Group, which bought out Thomas Cook’s activities in the sector, has announced the opening of three new Greek units. In May 2022, it will launch a Casa Cook hotel on Samos, described as the first newly built Casa Cook property worldwide since the start of the pandemic. The Chinese group has also confirmed the opening of a new Casa Cook on Mykonos and a new Cook’s Club at Ialysos on Rhodes next year.

Local industry sources say the plans of these two hotel giants, along with investment plans by other companies in tourism infrastructure and hotel properties, confirm the momentum Greek tourism has gathered since 2013, including its successful operation during the two pandemic seasons.

Why it matters

The simultaneous expansion of two major international hotel groups in Greece signals sustained investor confidence in the country’s tourism sector despite the pandemic’s disruption. For travel trade professionals, the addition of upscale brands like Raffles, Fairmont, and Banyan Tree on islands such as Mykonos and Crete will diversify the accommodation mix and potentially attract higher-spending segments. Fosun’s focus on the Casa Cook and Cook’s Club concepts, which target a younger, lifestyle-oriented traveller, indicates a strategic push to capture post-pandemic demand for experiential stays. The fact that these openings are planned for 2022 suggests that both groups expect a meaningful recovery in Greek tourism by then, a positive signal for tour operators and bedbanks planning forward inventory.