Domes and Brookfield, through one of its private real estate funds, has announced a joint venture whereby Brookfield will acquire a majority stake in the Domes Zeen Chania. Through the joint venture, Brookfield and Domes will expand the resort through an investment of over €40 million.
Domes Zeen Chania is a 105-key beachfront resort located in Chania, a prime destination on the Greek island of Crete. The resort is part of Marriott’s Luxury Collection brand and has won numerous accolades.
Brookfield has significant experience in the hospitality and extended-stay sectors, having invested in and expanded leading hospitality platforms across Europe including Center Parcs, edyn, Selenta Group, Experimental Group and Generator Hostels.
Dr. George P. Spanos, CEO of Domes Resorts, said: “We’re pleased to enter a joint venture with one of the world’s leading global real estate investors. With Domes now a stabilised platform supported by a strong brand, we look forward to working with Brookfield to embark on our next phase.”
Brad Hyler, Managing Partner & Co-President of Brookfield’s Real Estate Group, said: “We’re excited to invest in Domes Zeen Chania and partner with Domes to expand and further amenitize the resort. This marks our first investment in the Greek hospitality market, and we look forward to working with the Domes team and exploring additional investment opportunities in the future.”
Brookfield is one of the world’s largest owners and operators of real estate. With over $50 billion of assets under management in Europe across hospitality, alternative living, science and innovation real estate, logistics and office, Europe is a core market for its business.
