Reported about 11 hours ago
Goldman Sachs has decided to withdraw its plans to establish a hotel brand in Greece after selling three seaside resorts in Halkidiki for around €100 million, barely breaking even on its investments. Initially attracted by Greece's growing tourism and property market, the firm's ambitious project faced significant challenges, including unexpected renovation costs and construction delays, ultimately leading to its full pullout from investments in the hotel sector, except for a minority stake in real estate.
Source: YAHOO