Ikos Resorts expands in Spain

Ikos Resorts is in advanced negotiations to acquire two hotel properties from multinational group Hoteles Playa, which will be its third complex in Spain.

The Greek hotel group which, like Sani Resort, was founded by the Andreas and Stavros Andreadis family, is interested in acquiring these two units from Grupo Hoteles Playa with the aim of turning them into the group's second 5-star resort on the Costa del Sol, after the award-winning Ikos Andalusia, and the third in Spain.

Once the deal is completed, which according to information provides that Hoteles Playa will remain with a minority package of shares in the scheme, the Sani/Ikos Group will carry out a total renovation of the facilities. The new resort will have 420 rooms, to be built in two phases, and will include suites with terraces and private pools. 

The luxury resort is expected to join the chain's...