€200 million deals are transforming Cyprus mountain resorts

Investments of more than €200 million are changing the map of mountain Cyprus, kicking off a wave of hotel renovations in Troodos. At the center of the overhaul is Platres, where iconic hotels (Petit Palais, Pendeli, Splendid, Forest Park) have been acquired and are being restored, and the sports center has also been modernized. This model is set to be scaled up to Kakopetria.

In Prodromos, the legendary «Berengaria» hotel is being reconstructed for €35 million, while in Agros the Rodon hotel has come under the control of an investor from Hong Kong for €7 million to develop winter tourism. At the same time, Agros is warning of a drop in half-year profits due to the sharp rise in operating expenses and energy costs.