MHV Mediterranean Hospitality Venture Plc has recorded satisfactory performance and significant growth over the past year, something which is expected to continue this year, based on the group's future plans. Among other things, the group is planning to start construction work on the first tower of Parklane Residences within the fourth quarter of 2026.
According to the 2025 annual financial report, during the year ended 31 December 2025 the revenue of the Group amounted to €75.075.044 compared to €69.175.943 for the year ended 31 December 2024. The variance is mainly due to higher revenue from real estate activities of €1.733.809 and higher revenue from hotel operations of €4.055.251.
On the other hand, the Group’s operating loss for the year ended 31 December 2025 was €8.404.738, compared to operating loss of €52.238.833 for the year ended 31 December 2024, while the net loss for the year attributable to the shareholders of the Group amounted to €15.824.286 compared to €58.029.613 at the end of 2024.
As of 31 December, 2025, the group's total assets were €710,905,758 from €584,156,939 in 2024 and the group's net assets were €422,931,738 compared to €376,981,636 in 2024.
Future plans in Cyprus and Greece
Regarding the group's future plans, it is emphasised that The Landmark Nicosia, Autograph Collection in Nicosia officially opened on 2 December, 2025 under the Marriott Autograph Collection brand, following an extensive renovation of the hotel. It is also noted that the opening of the luxury resort is expected to set a new standard in the Nicosia hospitality landscape and strengthen the local economy, while at the same time enhancing the group's revenue from hotel activities.
Moreover, the Landmark Nicosia Towers are expected to be completed within 2026. Revenue from the towers will boost the group's revenue from real estate activities.
At the same time, following the acquisition of the Porto Paros hotel in Paros, Greece the group plans to carry out a significant renovation to transform the property into a top hospitality destination, enhancing its value and attractiveness, at a time to be decided by the company's Board of Directors.
At Parklane, a Luxury Collection Resort & Spa, Limassol, after securing planning permits for the development of two residential towers, the Group is proceeding with planning to begin construction work on the first tower, Parklane Residences , in the fourth quarter of 2026. Parklane Residences, which will be part of Marriott's The Luxury Collection brand, will be Limassol's new luxury "home away from home".
In addition, the group will further expand its portfolio through a corporate restructuring and contribution of certain hospitality assets from its parent company Prodea Real Estate Investment Company SA within 2026.
Franchising for a Lebanese restaurant
MHV's intangible assets include, among other things, franchise fees.
As reported, the €520,000 franchising cost incurred in 2025 relates to a franchise fee paid by the subsidiary Parklane Hotels Limited and the subsidiary The Cyprus Tourism Development Company to an unrelated party, which acts as the franchisor of the agreement dated 11 November 2025 for the license to operate a Lebanese restaurant to be opened in both hotels, namely, The Landmark Nicosia and Parklane, a Luxury Collection Resort & Spa.
The franchise has a term of 10 years. The carrying amount of this intangible asset at the end of 2025 was €511,334.
You can see the full report, as submitted to the Cyprus Stock Exchange, here.
(Source: InBusinessNews)
