Topic of the practice
Innovative business model of tourist accommodation SME
Good Practice Information
The Casale Panayiotis is a good example of how joint management can be realized of houses with different owners. The accommodation is sited in four independent traditional houses: Marathon, Troullion, Eliakon and Byzantino, which boast thirteen individually, designed rooms and suites. The complex also includes a restaurant, coffee shop, spa, conference facility and cultural centre.
A management operator was established to provide various services to customers. This joint management allows to provide many services to the customers, that the owners individually cannot afford to offer. Thanks to that, jobs were created.
This project has contributed to the regeneration/reviving of the village, has provided economic benefits to the area and locals by employing local population. Casale Panayiotis is one of the most successful, innovative and well known agro-tourism projects in Cyprus offering agrotouristic lodges. It is a private initiative project partly financed by National and EU funds that brought life to a dying village.
Evidence of success
The occupancy rate of the Casale Panayiotis is good and keeps improving, which is a very good indicator in this region of Cyprus which is far from the sea. This business allowed to renovate buildings in the village of Kalopanayiotis and to employ local people. Clearly, it saved this small village which was about to die.
Contact details to obtain further information on the practice
Owner: John Papadouris / Contact at Troodos Development Company: Panayiotis Papadopoulos / Klelia Vasiliou
Troodos Development Company