Florac

Company

Near Thessaloniki, Greece, brothers Andreas and Stavros Andreadis developed the Sani resort with unique characteristics: a seven-kilometer-long beach, four hotels, 750 rooms, 19 restaurants, a marina and, most importantly, a 90%+ client satisfaction rate.

Building on this success, and with the support of Oaktree Capital, the Andreadis brothers have launched the Ikos resort brand, a luxury all-inclusive concept that features ~300 rooms on two nearby sites.

Investment

In December 2015, Florac co-funded the combination of Sani and Ikos, with an objective to expand the Ikos concept throughout the Mediterranean region.

The current market environment is favorable, international arrivals are increasing and local hospitality capacity is globally poor and disorganized.

Key achievements

Since the end of 2015, the Company has completed important renovation work and existing site expansions as well as the acquisition and development of two new sites in Greece.

Websites

• www.sani-resort.com
• ikosresorts.com

Investment date

December 2015

Sector

Hospitality

Investment type

MBO

Headquarters

Thessaloniki (Greece)

Revenue 2015

€85m

Headcount 2015

2,000