Goldman Sachs Scraps Plans to Build Hotel Brand in Greece
Just a few years ago, Goldman Sachs GS 0.53%increase; green up pointing triangle had ambitions to create a hotel brand in Greece that could one day expand to spots around the Mediterranean.
The Wall Street giant bought three seaside resorts in northern Greece in 2022, with plans to spruce them up and start welcoming guests as soon as this year. Tourism in the country was on a tear, and the bank saw an opportunity to snap up properties on the mainland with views of the Aegean Sea, rather than on the pricier Greek islands.
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