CHICAGO (February 8, 2022) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement with Thera Island Suites S.A., owners of Magma Resort Santorini, and Athens-based SWOT Hospitality will operate the hotel. Expected to open in 2022 in time for the summer season, the hotel will join The Unbound Collection by Hyatt portfolio as the first Hyatt-affiliated resort in the Greek islands, featuring 59 guestrooms, including 24 suites. The signing underscores Hyatt’s strategy to grow its brand footprint in the leisure and independent collection segments across key European leisure destinations.
Magma Resort Santorini will resemble a re-imagined traditional Cycladic dwelling by incorporating a sustainable yet modern exterior design that seamlessly integrates the lava-made and stone elements with the overall island’s ambience. All 59 guestrooms and suites, 46 of which will feature private pools and hot tubs, will enjoy unobstructed views of the Aegean Sea and Anafi Island.
True to The Unbound Collection by Hyatt brand’s ethos, Magma Resort Santorini will offer one-of-a-kind, modern and personalized luxury guest experiences. Nestled among traditional old vineyards, the resort will be located on the lava-made slopes of Vourvoulos, in close proximity to picturesque lava sand beaches on the northeast part of the island and popular cosmopolitan destinations such as Fira and Oia, known for its Instagram-worthy sunsets. The resort’s culinary experience, Magma by Spondi, will be curated by a two-starred Michelin chef and honor local agriculture and seasonal ingredients in a contemporary and inventive interpretation. The restaurant’s menu will feature signature dishes and other fine dining options paired with renowned wines from the rich viticulture for which the island is known.
“We are thrilled to work with SWOT Hospitality and are excited to announce The Unbound Collection by Hyatt brand’s upcoming entry into the Greek Islands with Magma Resort Santorini,” said Peter Norman, senior vice president of development for EAME & SWA, Hyatt. “The expansion of our luxury and independent collection brands in popular leisure destinations in Europe plays a central role in our growth strategy as we aim to satisfy the increasing leisure demand from travelers looking for story-worthy experiences.”
Santorini is one of Greece’s most visited islands, famed for its association with the lost island of Atlantis. In light of its continued growth in popularity, it has been chosen by the Ministry of Tourism and the European Bank to be a focus area for sustainable tourism. The island is well-known for its extraordinary, picturesque beaches, dramatic cliffs overlooking the caldera and iconic sunset views.
“We are very pleased to be part of the Hyatt family by introducing The Unbound Collection by Hyatt brand to Greece, and the story-worthy experiences that will come with its brand recognition. Together with Hyatt, we aim to set a new benchmark for hospitality in the destination," says Mr. Stefanos Papakaliatis, managing partner at Thera Islands Suites.
Magma Resort Santorini will be designed to incorporate organic shapes from black volcanic stones alongside contrasting, off-white geometric prisms, reminiscent of Santorini’s volcanic ash which is evident around the island. The resort will be inspired by the surrounding traditional dwellings, or pezoules, and terraced land used for winemaking. The design will blend the natural environment while paying homage to Santorini’s underground spaces and cave homes, with a state-of-the-art wellness center and a subterranean spa and a spacious event facility for up to 250 guests. Elsewhere, the resort will feature several semi-outdoor spaces and covered walkways to create balance between the cool interior and warm open air. The design and architectural development will be produced by PEOPLE and ELASTIC Architects.
“This is a hallmark project for SWOT and for the destination,” says SWOT Hospitality President Mr. Stelios Koutsivitis. “As a team, we are passionate about entering into this agreement with Hyatt and are dedicated to creating an authentic, extraordinary and soulful resort that carries the spiritual DNA of Greece.”
The Unbound Collection by Hyatt brand is a collection of truly distinctive properties, all with a different story to tell. Inspiring guests to discover new places with rich history, a fascinating past or a distinct sense of place, each property embodying the uniqueness of its location. Once open, Magma Resort Santorini will become the ninth hotel in The Unbound Collection by Hyatt in Europe, which includes: The Wellem in Dusseldorf, Hotel SOFIA Barcelona, Hôtel Reisen in Stockholm, Párisi Udvar Hotel Budapest, Great Scotland Yard Hotel in London, Hôtel du Louvre in Paris, the iconic Hôtel Martinez in Cannes and Hôtel du Palais Biarritz as well as additional three properties in the pipeline: Grand Hansa Hotel Helsinki, La Zambra in Mijas, Spain and Hotel Rhodania Crans Montana in Switzerland.
For more information, visit https://www.hyatt.com/brands/unbound-collection
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
 Source: OECD Tourism Statistics (Database). https://www.oecd-ilibrary.org/sites/f3180e03-en/index.html?itemId=/content/component/f3180e03-en.
About The Unbound Collection by Hyatt
More than a compilation of independent, one-of-a-kind hotels, The Unbound Collection by Hyatt brand is a thoughtful curation of stories worth collecting. Whether it’s a modern marvel, a historic gem or a revitalizing retreat, each property provides thought-provoking environments and experiences that inspire for guests seeking elevated yet unscripted service when they travel. For a full list of hotels in the collection, visit unboundcollection.hyatt.com. Follow @UnboundxHyatt on Facebook and Instagram and tag your photos with #UnboundxHyatt.
About SWOT Hospitality
Established in May 2013, is a leading hotel management company based in Athens, Greece specializing in hotel management, asset management and development, investment management, sales & marketing and advisory services. SWOT’s experience, professionalism and ability to effectively respond to the rising demands of the global hospitality industry has led top investors and developers to entrust the company with realizing their vision to excellence. The Firm’s principals have maintained a consistent track record of strong performance and value creation. They have acquired, developed and managed some of the most high-profile hotels in the region, with more than 3,500 rooms and a value in excess of €1 billion. The Firm’s Advisory team has underwritten large hotel portfolios of more than 2 billion on behalf of systematic banks and institutional investors. For more information, please visit https://swot.gr
About Thera Island Suites S.A.
Papakaliatis family group of companies has been operating in the tourism industry for over 55 years. The first company was formed in 1966 by Ioannis Papakaliatis and his sons under the name, Zeus of Crete. It was the first incoming handling agency (DMC) in Crete to renowned European tour operators such as Neckerman, Thomas Cook, Tui, Flying Carpet, Bucher, Pegase, Alltours, EasyJet Holidays, Apollo Travel, Jumbotours, Onthebeach, Kompas, Olympic Holidays, Karpaten, Nekera, W2M Travel and many more. Since then, the company continued its core incoming business until this day, becoming one of Leading Destination Management Companies in Greece. In 1988, the family started investing in the hospitality industry with various companies. The first hotel company Anissaras Hotels was formed with owned hotels in Anissaras area in Crete, later on in 2008 with Greco Star Hotels that operated leased hotels in Corfu & Kos islands and most recently in 2013 with Zeus Hotels that is operating six leased, and part owned hotels in Crete and Rhodes. Since 2019, Thera Islands Suites company has targeted the luxury sector of the market and the company is seeking to develop and acquire five-star properties in well-known destinations. The family is also involved in the shipping industry with a company based in Corfu, and privately owns one flying dolphin ferry, and two small cruise ships which are sub-leased by Joy Cruises company that provide daily ferry routes in the Ionian Sea. It also provides ferry excursions in Corfu, Paxi and south of Albania.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2021, Hyatt’s portfolio included more than 1,000 hotel and all-inclusive properties in 69 countries across six continents, and the acquisition of Apple Leisure Group added 96 properties in 10 countries as of November 1, 2021. Hyatt’s offerings include the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, UrCove, and Hyatt Residence Club® brands, as well as resort and hotel brands under the AMR™ Collection, including Secrets® Resorts & Spas, Dreams® Resorts & Spas, Breathless® Resorts & Spas, Zoëtry® Wellness & Spa Resorts, Alua® Hotels & Resorts, and Sunscape® Resorts & Spas. Hyatt’s subsidiaries operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and the Trisept Solutions® travel technology platform. For more information, please visit www.hyatt.com.
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