Attica Group – Logistics and hotels the new fields of activity of the group
Attica Group, the country’s largest shipping group, plans to expand its operations to logistics – in addition to hotels.
These are moves that in Greece may make an impression, but a look at what is happening in the ferry market in the rest of Europe is enough to show that this development is normal for the size and business capabilities of a group such as Attica Group and for the leading role it plays in the Greek coastal shipping and the wider tourist and transport market.
With a fleet of 26 passenger-vehicle ferries (to which another nine ANEK ships may be added as soon as the agreement of the banks for the absorption of the Chania company by Attica is formalized) and with 36,148 passengers capacity it is in the third place in the world ranking among ferry operators based on passenger capacity, the sixth based on capacity in lanemeter (vehicle transport) and the seventh based on gross tonnage.
Other ferry groups
With these capabilities, its other competitors in Northern and Western Europe have a strong presence in both logistics and tourism.
Revealing are the data of other coastal groups in Europe, recorded by the management of Attica, which seeks to expand its operations.
The Swedish Stena group for example has a strong presence both in logistics (storage and management of cargo, combined transport) and in tourism by offering travel and accommodation packages, management of passenger terminals and hotels.
Also, the Danish DFDS has a strong presence in logistics managed terminals, intermodal transport but also in tourism by offering packages and mini cruises in various cities in northern Europe.
The Estonian Talink is also involved in the management of hotels, as well as the Norwegian Color Line, which offers transport services for cargo and passengers, accommodation in hotels, manages shops, restaurants, etc.
Also, the Grimaldi group has a strong presence in logistics while emphasizing the management of tourist packages, while also offering mini cruises, excursions, etc.
Attica Group, with 90 million euros in cash, as its executives emphasize, seeks to expand the scope of activities in two sectors that are complementary to its main activity and ensure stable income, but also increase cross-selling, which in its group Attica is very low compared to its competitors in the international market.
With an EBITDA margin of 35-45% that the hotel industry has, the funds that the group will allocate will have a very satisfactory return, emphasize firm executives.
Regarding the expansion in hotels, the Attica Group recently bought the Naxos Resort Beach Hotel, located in Agios Georgios Naxos, through its 100% subsidiary Attica Blue Hospitality, for 6.5 million euros through bank borrowing.
The hotel complex has been built on a total area of 8,166.92 sq.m., has 88 rooms with the possibility of building an additional 1,300 sq.m. The unit has a swimming pool, restaurants, bar, meeting room, gym, spa, and parking space. Attica Blue Hospitality will upgrade and expand the hotel facilities.
Start at Naxos Resort Beach Hotel
“The targeted activity in the hotel industry that starts with the purchase of Naxos Resort Beach Hotel, differentiates Attica Group from the competition, expands its activities in the tourism industry, allowing it to meet a wider range of needs of its customers, while at the same time enabling it. to strengthen its financial position by investing in related sectors that offer direct synergies,” it is pointed out.
Information available to ot.gr states that the group is considering the purchase of two or three more units immediately while it will continue to expand in the sector in order to acquire a critical measurable size and to create a recognizable brand such as its ferry business.
The Blue Star Ferries brand is the most recognizable and most accepted according to measurements among coastal passengers, while the Hellenic Seaways brand also has a very strong position. The Group’s interest in acquiring units is focused on the Cyclades islands beyond Mykonos, Dodecanese and Crete.Regarding logistics, it is recalled that Attica Group has expressed interest in the ports of Igoumenitsa and Heraklion, but does not stay there as it considers the expansion and other activities such as the creation of storage and logistics centers in collaboration with other business groups.