Horwath HTL supports Kanika Hotels & Resorts’ expansion strategy

By On 25th September 2015

Cyprus, September 24th 2015
Horwath HTL supports Kanika Hotels & Resorts’ expansion strategy

Promising investment opportunities in luxury leisure hotels

Horwath HTL in Cyprus and Switzerland have joined forces with the Kanika Group in Cyprus, to implement the Group’s strategy of expanding the activities of its hospitality division, Kanika Hotels & Resorts, to other established holiday destinations.
In particular, Kanika Hotels & Resorts is seeking to enter into partnerships with international hotel owners, asset managers and hotel investment funds, in order to launch Kanika’s own hotel brands in locations that support the core values of each brand.
To date, Kanika Hotels & Resorts has developed two branded hotel concepts: the extremely successful Olympic Lagoon Resorts and the new ultra-luxury couples-only brand, which is expected to be announced very soon.
The Kanika Group is also a major player in the construction and land development industry in Cyprus. The Group’s Executive Chairman, Mr. Spyros Th. Karaolis, says, “As a Group we have all the elements of success in our industry: knowhow and experience since 1975, expertise in design and construction, our own tried and tested management and data analysis systems, and above all, a proven track record that has made us the leading leisure hotel group in Cyprus. Our plan to expand is exactly the kind of opportunity serious investors in our industry are looking for.”

About the Kanika Group
Kanika is a name that is synonymous with hotels, construction and development in Cyprus. A name that echoes five decades of operation and continuous growth.
Through its individual member companies – Kanika Developments Ltd, Kanika Property Management Ltd and Kanika Hotels & Resorts – the group branched out into areas of land development, property management and hotel ownership and management respectively.
Today, the Kanika Group of Companies employs over 600 dedicated employees and has contributed tremendously to the economic and social development and progress of the island.
Kanika Group of Companies anticipates the future with confidence and welcomes the new challenges that Cyprus’s recent accession to the European Union presents.

About Horwath HTL
Horwath HTL (Hotels Tourism and Leisure) is the world’s largest and most experienced Hotel, tourism and leisure-consulting brand, with over 50 offices in 39 countries. Horwath HTL provides unequalled expertise for clients around the world, always providing the highest level of service to our clients.
Over the last 25 years, Horwath HTL has gained extensive market knowledge through involvement in thousands of projects.
Horwath HTL is a member of Crowe Horwath International, a professional association of accounting and management consulting firms founded in New York in 1915. Crowe Horwath International is currently ranked among the top ten international professional service groups with offices in close to 586 cities in 108 countries.

If you have any questions, please contact James Chappell, Global Business Director at jchappell@horwathhtl.com

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