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KANIKA Group of Companies celebrates its 40th Anniversary

Human Capital is the cornerstone of Kanika’s ongoing success

Kanika Group of Companies celebrated its 40th anniversary during an evening which was organized in Limassol and was dedicated to the entire staff of the Kanika Group of Companies, to acknowledge their valuable contribution to the Group’s achievements.

In his welcome address, the Group Hotel General Manager, Mr Christos Pericou, said: «In our eyes, success is synonymous with the welfare and development of our people. We firmly believe that our people are our greatest asset, and they certainly have the highest value.»

The company’s Chief Executive Officer, Mr Alexis Chrysostomou, noted in turn that all of Kanika Hotels had once again proudly received a total of 18 quality awards from the Group’s associates, thanks to the staff’s hard work, performance and dedication. Two particular awards stood out: The Olympic Lagoon Resort Paphos was recognized among the Top 10 ‘Best New Hotels’ worldwide, while the Olympic Lagoon Resort Agia Napa ranked among the Top 25 ‘Best Hotels for Families’ in Europe.

Kanika’s Group Executive Chairman, Mr Spyros Karaolis, pointed out that 2015 was a successful year and once again, as every year, the Group will invest not only in measures to expand and improve its infrastructure and services, but above all to develop its human resources, the backbone of the Group. In his address, Mr Karaolis presented an ambitious action plan for the benefit of the Group’s staff, which includes among other things:

A new staff restaurant based on an innovative concept which will set new standards in the local hotel industry;
A pioneering «Recognition and Rewards» programme based on the company’s core values;
The full implementation of the new health care scheme for all staff members, the first of its kind in the local hotel and construction industry, the cost of which is fully covered by the company;
Notable salary increases and in some cases broader staff benefits.

The Group’s Hotel Division comprises four resort hotels across Cyprus, which were upgraded with new and innovative services and structural facilities to match their pioneering concepts. In 2011, the Olympic Lagoon Resort Agia Napa, a member of Kanika Hotels, was launched as the first luxury theme resort of its kind on the island, thereby adding a new dimension to the Cyprus tourism industry. In 2015, and in cooperation with Claridge Public Ltd, the Group redesigned the former Paphos Amathus Hotel and relaunched it successfully as the new Olympic Lagoon Resort in Paphos. The Group is currently planning the development of a new luxury hotel, with construction expected to begin soon on one of the most exclusive seafront sites in Cyprus, adjacent to the fully renovated Alexander the Great Beach Hotel in Paphos.

Alongside its role in the hotel industry, Kanika Developments & Construction Ltd, continues its activities in the land development sector with high standard projects such as the development of hotels, luxury villas, apartments, offices and shops. Recent examples include the luxurious Kanika International Business Center, the Agios Athanasios Hills and Kanika Moni Sunrise.

Within the framkework of its Corporate Social Responsibility programme, the Kanika Group of Companies supported the establishment of the non-profit Ithaki Charity Organisation which was founded in 2011. Ithaki provides palliative care for patients who have been diagnosed with any form of dementia, while offering their families psycho-social support. In 2013, Ithaki launched a day care centre in Limassol, which operates as a half-day unit that offers patients accommodation and activity, medical care, as well as patient support.

The Kanika Group of Companies was founded in 1975 by Mr Theodosis Karaolis and two other friends. Initially it focused on construction and landdevelopment, and later expanded to include hotels. Over the years the Group went from strength to strength in this sector and earned its rank among the most dynamic and leading companies in Cyprus. One of the Group’s landmark projects is the well-known Kanika Enaerios Complex, which comprises 750 apartments, 250 shops, offices, and the former Kanika Pantheon hotel. The Kanika Enaerios Complex is still regarded as one of the biggest construction projects in Cyprus.

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