Athens, Greece – The Greek hotel market is becoming the focal point of an ambitious investment plan by a major international player. Israel Canada Hotels, the rapidly expanding hospitality arm of the leading Israeli real estate group Israel Canada, is dynamically growing its presence in Greece with the aim of doubling the number of rooms it manages over the next five years, reaching a total of 3,000 by 2030. The plan is based on the acquisition of Brown Hotels, as well as new projects, renovations, and digital investments that enhance guest experience.
Israel Canada Hotels: A Rapidly Expanding Presence
Founded in 2019, Israel Canada Hotels has already established itself as one of the most recognizable hotel groups in Europe and Israel, with 36 operating hotels. The company seeks to combine dynamic development with properties that stand out for their character, high-quality design, and authentic local identity, creating destinations that elevate lifestyle and boutique hospitality standards, as Reuven Elkes, CEO of Israel Canada Hotels, noted during a meeting with journalists in Athens.
The Investment Plan in Greece: A Multi-faceted Approach
According to the investment program, the company is proceeding with a combination of expansion of existing hotels and new developments. In Athens, Play Theatrou will double its capacity to 100 rooms by September 2026, adding a rooftop pool, spa, gym, and a fine-dining restaurant. In early 2027, the five-star Brown Lycourgou with 40 rooms is expected to open, followed by Isla Brown in the Syngrou area. At the same time, Villa Brown Ermou will expand, increasing its room count from 16 to 51. Beyond Athens, the company is investing in a new property in Evia, strengthening its presence on the island.
By 2027, Israel Canada Hotels will have a total of 1,500 rooms in Greece, while its strategic interest for expansion includes destinations such as Thessaloniki, Rhodes, Corfu, and Crete. The company’s strategy combines acquisition, leasing, and hotel management, ensuring quality and brand character while also providing expertise to owners seeking development.
Acquisition of Brown Hotels: A Strategic Move
The acquisition of Brown Hotels in April 2025 brought to Israel Canada Hotels significant four- and five-star properties in Greece and Cyprus, such as Villa Brown Ermou, Brown Acropol, Brown Beach Chalkida, Isla Brown Corinthia, and Paphos Hills. Brown Hotels now operates as the flagship brand, maintaining its philosophy while integrating its hotels into collections such as Brown Urban Collection, Brown Boutique, Brown Beach & Resorts, Play by Brown, Brown Nature, and the new Ultra Luxury Collection.
As Leon Avigad, founder of Brown Hotels, noted, “Brown is now an established brand in Europe, we manage hotels in seven countries and are exploring new markets, something that demonstrates trust in management and in the leadership of CEO Spyros Ioannou.”
The acquisition of Brown Hotels marks the entry of a strong international player into the Greek market without altering the brand’s identity. Through investments in new projects, technology, and renovations, Israel Canada Hotels aims to redefine lifestyle and boutique hospitality standards in Greece, creating destinations that combine authenticity, design, and high-level guest experience.
