HIP ADDS ITS THIRD HOTEL IN CRETE
- Phaea Cretan Malia Park is a five-star resort with 204 rooms, located on the beachfront (Blue Flag) on the northern coast of Crete.
- HIP, present in Greece since 2019, now has eleven assets across the country's leading tourist destinations.
- A member of Design Hotels, the resort offers a variety of room types: bungalows, suites, and rooms in the main building, set within lush Mediterranean gardens.
- The hotel features extensive leisure and common areas: two swimming pools, a spa and gym, tennis and basketball courts, and a children's club. It also offers a wide variety of dining options, including five restaurants and two bars.
- HIP will invest €7 million to upgrade and reposition the hotel. A leader in hotel investment, HIP has allocated more than €800 million to transform and upgrade its current portfolio of resorts and tourist hotels.
Barcelona, X XX 2026. - Hotel Investment Partners (HIP), one of the leading owners of resort hotels in Southern Europe owned by funds managed by Blackstone and GIC, today announced the addition of its third hotel in Crete to its portfolio, Phaea Cretan Malia Park, a five-star resort located on the beachfront on the northern coast of the island. With this acquisition, the company now has eleven assets across Greece's leading tourist destinations: Corfu, Rhodes, Zakynthos, Crete, the Halkidiki Peninsula and Athens.
Phaea Cretan Malia Park
The hotel, part of Marriott's Design Hotels, has direct access to a Blue Flag sandy beach and offers 204 rooms across a range of types: bungalows, suites, and spacious rooms in the main building. The hotel features a children's club, two outdoor swimming pools, a spa and gym, tennis, basketball, and volleyball courts, sunbed service on the beach, and water sports. It also offers a wide variety of dining options, including five restaurants and two bars.
Funds managed by Blackstone have acquired the hotel from Phaea, one of the leading local operators. In line with its business strategy, HIP will invest an additional €7 million to upgrade and reposition the hotel, including the renovation of rooms and common areas. Phaea completed its last round of facility upgrades in 2019.
The hotel will integrate sustainability as a key element of its value-creation strategy. It already benefits from photovoltaic solar installation for on-site power generation, with additional energy-efficiency measures also planned, including upgrades to air-conditioning systems and the pursuit of BREEAM certification, one of the leading international sustainability standards.
HIP continues to expand its international presence, building on its strong position in some of Southern Europe's fastest-growing leisure destinations. HIP now has eleven assets in Greece, six in Italy, two in Portugal and one in Cyprus, following the addition of Olympic Lagoon Resorts Paphos to its portfolio in January.
HIP is committed to generating value for the destinations in which they operate through investment and repositioning of its hotel assets. As a leader in hotel investment, the company has allocated more than €800 million to transform and upgrade its current portfolio of resorts and tourist hotels.
About Hotel Investment Partners (HIP)
HIP (Hotel Investment Partners) is a leading owner of resort hotels in Southern Europe founded in 2015. The business, owned by funds managed by Blackstone and GIC, currently has a portfolio of 68 hotels totaling more than 21k keys across Spain, Greece, Italy and Portugal.
HIP has an in-house team of over 100 professionals specialising in the acquisition, transformation, and ownership of well-located but undercapitalised hotels in prime coastal locations. HIP partners with global brands, including Ritz-Carlton, Barceló, AMR Resorts by Hyatt, Hilton, Ledra and Marriott to provide an improved guest experience.