The Official Gazette that unblocks Mitsis’ investment in Kamena Vourla

The approval of the Special Spatial Development Plan for Public Property (ESCHADA) for the “Thermal Springs of Kamena Vourla Spa Resort” was published in the Government Gazette, two and a half years after the declaration of the Mitsis Consortium as the lessee. Thus, the way is opened for the exploitation of a historic thermal center that has been a reference point for thermal tourism in Greece since the 1930s.

The seaside property, with a total area of ​​456,916 sq m, uniquely combines sea, thermal springs and a forest environment, making it attractive for investments in the field of wellness and high-end tourism.

In the HRADF competition for the development of the property, a consortium consisting of Galini Hotel Tourism & Commercial Enterprises S.A. (Mitsis Group) and Staritem Investments PLC won the bid, offering a one-time consideration of €1.05 million and an annual rent of €380 thousand for 40 years. The investment plan, which was also presented to the Prime Minister in early 2023 by the Group’s CEO, Stavros Mitsis, and the president, Christina Mitsis, includes extensive interventions, totaling €50 million.

The aforementioned Government Gazette, Issue D’ 671/29.08.2025, allows the concession agreement to be signed and the investor to then begin the process for issuing a Joint Ministerial Decision for the zoning of the property.

The investment plan

According to the terms of the lease and the guidelines of the ESCHADA, the consortium must proceed with mandatory investments within four years of the issuance of the Joint Ministerial Decree. These concern the restoration and reopening of the listed hotels “Radio” and “Thronion” as well as the “Asklipios” hydrotherapy center, the maintenance of the “Galini” hotel (500 beds) and the “Ippokrates” hydrotherapy center, the creation of parks and sidewalks, the formation of a new parking area and the development of a perimeter traffic ring. At the same time, the protection and promotion of the “Dexameni Georgala” thermal spring is envisaged, with the establishment of protection zones and the possibility of modernizing the facilities.

The Strategic Environmental Impact Assessment introduces strict conditions for the protection of the natural and cultural environment, including the preservation of free access to the coastal front, the use of Renewable Energy Sources and the protection of listed monuments.

The location of Loutropolis, just two hours from Athens and a short distance from Delphi and Thermopylae, gives the project strategic importance for the development of thermal tourism. If the investment proceeds, it is estimated that it will act as a lever for the upgrade of the tourism product of Central Greece, creating multiplier benefits for the local economy and restoring Kamena Vourla to the international map of wellness destinations.