Filenews 29 November 2025 - by Dora Christodoulou
One of the most famous hotels in Paphos, the Olympic Lagoon, on the coastal avenue passes into American hands. As announced by the Hellenic Competition Protection Commission, the share capital of the company that owns the hotel was acquired by the American company Blackstone Inc. through Querin Limited.
According to the relevant announcement, the Service of the Hellenic Competition Commission received a notification of concentration regarding the acquisition of the share capital of K.A. Olympic Lagoon Resort Limited by Blackstone Inc. through Querin Limited and the joint control of Olympic Lagoon Resorts Paphos by Blackstone Inc. and Kanika Group Ltd.
Blackstone Inc. is a global alternative asset management company, listed on the New York Stock Exchange. The company operates as an investment management company, and each company in its investment portfolio is independently managed and funded, and each has different investors.
Querin Limited is a private company duly registered under the laws of the Republic of Cyprus, owned by Blackstone Inc. and created for the purposes of this concentration.
Kanika Group Ltd is a private company, duly registered under the laws of the Republic of Cyprus and is a holding company whose only activity is investing in companies. The main activities of its subsidiaries are: management of hotels, own hotels or third party hotels, hotel ownership, operation of hotels (through ownership or rental), property development, property management and construction.
The target in this concentration is K.A. Olympic Lagoon Resort Limited, which is a limited liability company duly registered under the laws of the Republic of Cyprus. This company operates only in Cyprus and is the full and exclusive owner of the Olympic Lagoon Resorts Paphos hotel.
