Aphrodite Hills Resort is a luxurious 5-star resort located in the southwestern part of Cyprus, near Paphos. The resort is known for its stunning views of the Mediterranean Sea and the beautiful Aphrodite Hills Golf Course.
It offers a range of amenities such as a spa, fitness center, tennis courts, and multiple dining options. However, one question that often arises among visitors is – Who owns Aphrodite Hills Resort?
The answer to this question is not straightforward as there have been multiple owners of the resort over the years. Initially, Aphrodite Hills Resort was developed by Lanitis Development Ltd., a Cypriot property developer. The resort opened its doors to guests in 2002 and quickly gained popularity among tourists.
In 2007, the resort was acquired by the Bank of Cyprus Group (BOC), one of the largest banks in Cyprus. BOC saw an opportunity to invest in a growing market and expand its business beyond traditional banking services.
However, in 2013, BOC faced financial difficulties due to the economic crisis in Cyprus. As a result, they had to sell several non-core assets including Aphrodite Hills Resort. The buyer was not another company or investor but instead a group of homeowners within the resort.
The homeowners formed a company called Aphrodite Springs Public Ltd., which acquired the resort for €49 million ($58 million). This was a significant milestone as it marked one of the first instances where homeowners took ownership of their own community within Cyprus.
Today, Aphrodite Springs Public Ltd. continues to own and operate Aphrodite Hills Resort. The homeowners have formed an association that oversees daily operations through elected representatives and ensures that all residents’ needs are met.
In conclusion, while there have been multiple owners of Aphrodite Hills Resort over time, it is currently owned by an association formed by homeowners within the community. This unique ownership structure ensures that the resort is run with a sense of community and provides an exceptional experience to all guests who visit.
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