Goldman Sachs plans to invest hundreds of millions of dollars in Greek hotels and aims to buy more properties.
This is according to The Wall Street Journal, which said the bank is investing between 150 million and 200 million euros ($163 million to $217 million) on three seaside resorts in the northern region of Halkidiki.
Undisclosed sources said Journal Goldman bought the hotels in October and now plans to renovate them.
In May last year, the Greek newspaper Kathimerini reported that Goldman was in talks with Ghotels to acquire a five-star hotel and two four-star units at Kallithea in Halkidiki. The assets were estimated at between 80 million and 90 million euros.
Capital Quest reported in October that Goldman was planning to invest in hotels as part of a drive to tap into the thriving Greek tourism industry.
The Journal also reported that Goldman was looking for properties in Greece and elsewhere in Europe to potentially run them under a single brand.