The Hellenic Republic Asset Development Fund (HRADF) has announced the winner of the tender for the Loutropolis Kamena Vourla property public-private partnership (PPP) project in Greece.

The winner was a consortium of GALINI HOTEL TOURISM AND COMMERCIAL ENTERPRISES SA and STARITEM INVESTMENTS. PLC. The consortium will be responsible for the development through a long-term lease of 40 years of the property "Loutropolis Kamena Vourla" and implement mandatory investments to upgrade and modernize the property within 4 years. The financial proposal from the consortium includes a one-time payment of EUR1 million (US$1.1 million) and an annual rent of EUR380,000 (US$404,426). 

The property has a total area of 474,524 sq m and includes the facilities of the hotel "Galini", the hydrotherapy center "Hippocrates", the listed architectural monuments hotels "Radion" and "Thronion", the hydrotherapy center "Asklipios" and the thermal spring "Georgala".