Newsflash from Sunday, 5 October 2025.
One of Greece’s most ambitious tourism investments is steadily moving ahead, as the Metaxa Hospitality Group progresses with its €250 million Cape Tholos project in Kavousi, Ierapetra, Crete. The development, part of Greece’s Strategic Investments framework, aims to create a world-class luxury destination that will further elevate Crete’s position on the global tourism map.
According to recent reports, the project is currently in the technical maturation phase, following the *Presidential Decree issued in December 2024 that approved the Special Spatial Development Plan (ESHASE). This milestone allows the group to proceed with the next stages of design, planning, and licensing.
The Cape Tholos resort will feature 220 ultra-luxury hotel rooms and 102 private residences, spread across a coastal area of exceptional natural beauty. Construction is expected to begin in 2026, once all permits are finalized, with partial operation planned for 2028, as the project will be developed in multiple phases.
The Metaxa Hospitality Group — which currently operates five five-star hotels, including Creta Maris, Candia Maris, and Santo Pure Oia Suites & Villas — continues to expand its footprint in the Greek luxury tourism sector. Alongside Cape Tholos, the group is also pursuing a new high-end resort in Santorini, the Lapilli project, although its progress has been temporarily delayed by legal proceedings.
In 2024, the company reported a 19% increase in turnover, reaching €61.1 million, with EBITDA doubling to €17.1 million, underscoring its strong financial performance and readiness to support large-scale investments like Cape Tholos.
Once completed, the Cape Tholos resort is expected to become a flagship destination for sustainable, year-round tourism in Crete — blending architectural elegance, environmental respect, and authentic Cretan hospitality.
Source: Hania News
