Minoan Group Plc announced that it has agreed to collaborate with a major international luxury hotel group, in relation to one or more of the hotels in Minoan's Itanos Gaia Project in Crete. The collaboration proposal as agreed and accepted by Minoan, sets out the outline key financial and other terms for the Hotel Group to become the operator and/or manager of one or more of the hotels. The Terms also include those for the Residences which will be operated alongside the relevant hotel.
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