Goldman bought three hotels overlooking the Aegean Sea. Next up: a renovation and a new brand.
Goldman Sachs Group Inc.’s search for steady revenue has led it to an unlikely place: the epicenter of a financial crisis that rocked Europe a decade ago.
The Wall Street giant is investing about €150 million to €200 million in three seaside resorts in a northern region of Greece, according to people familiar with the matter. The plan is to spruce up the hotels, which are currently closed, and open them to guests in the next couple of years, the people said. Goldman bought the hotels in October and has financing in place to renovate them.
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