Dubai-based family office Vivium Holding has acquired a boutique hotel in Greece, marking its entry into the hospitality sector.

Founded by Middle East entrepreneur Elie Khouri, who is also the chairman of media conglomerate Omnicom, Vivium Holding is looking to acquire a total of five hotels within the next two years.

The recently acquired hotel is located on the island of Paros and will have up to 40 rooms with sea and sunset views, private dipping pools and terraces, according to a statement on Thursday.

The Greek island has been seeing an upswing in visitor numbers, with nearly 1.25 million people arriving in 2022, up by 9% year-on-year.

Established in 2017, Vivium Holding focuses on alternative investing.

In August, the company announced the acquisition of VIVA Sotheby’s International Realty in Spain. The investment follows the company’s establishment of Saudi Arabia Sotheby’s International Realty in the Middle East and acquisition of United Kingdom Sotheby’s International Realty.

(Writing by Cleofe Maceda; editing by Brinda Darasha)