Minoan Group to announce Greek hotel deal-report

Minoan Group is close to acquiring a five star resort in Greece in a deal likely to be announced after the Easter break, reported Greek website Capital.gr Monday.

Minoan Group, a travel agency operator and holiday resort developer, is also looking at further additions to its hotel portfolio in Greece, the website added, without adding further details.

The news comes after the company got the green light from a Greek court last week to go ahead with the construction of its new luxury resort on the Cavos Sidero Pensinsula, in Crete's north east, overcoming objections based on environmental concerns.