MHV reduces losses and increases revenue after opening Landmark Nicosia

Mediterranean Hospitality Venture (MHV) reported a significant improvement in financial performance for 2025, bolstered by the opening of The Landmark Nicosia hotel in December.

According to the reports, the company's net losses decreased to €15.8 million compared to €58 million the previous year. Group revenue rose to €75.1 million from €69.2 million in 2024. Growth was driven by both real estate operations and an increase in hospitality segment income.

Operating losses also dropped significantly to €8.4 million from €52.2 million a year earlier. The result was influenced by the absence of major one-off payments recorded in 2024, as well as a partial recovery in asset values.

At the same time, the company recorded several one-off losses, including a loss from the sale of a stake in a subsidiary and a revaluation of financial liabilities. Despite this, net financial expenses decreased by nearly half to €3.8 million, due to lower interest rates and efficient borrowing management.

A key event of the year was the opening of the Landmark Nicosia hotel under the Autograph Collection brand by Marriott International. The company expects the project to become a growth driver and enhance the capital's tourist appeal.

MHV's plans include completing the construction of Landmark Nicosia Towers in 2026, developing the Parklane Residences residential project under The Luxury Collection brand, and modernizing the Porto Paros hotel in Greece.

The company also intends to expand its asset portfolio through restructuring and the integration of new properties. MHV anticipates that these steps will secure income growth and strengthen its position in the region's real estate and hospitality market.