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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, this year celebrates its 40th anniversary, as a leading hotelier and developer in Cyprus. The Kanika Group of Companies was founded in 1975 by Mr Theodosis Karaolis and two other friends. Initially it focused on construction and land development, 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 in Limassol, 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. 


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, another member company of the Group, 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 framework of its Corporate Social Responsibility programme, the Kanika Group of Companies in 2011 supported the establishment of the non-profit Ithaki Charity Organisation offering support to people diagnosed with dementia. 
To commemorate its 40th anniversary, the Kanika Group of Companies invited all its employees to celebrate 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.
The Group's vision today is to be established as a leading hotel and theme resorts chain, with diversified and innovative infrastructures and services that offer unique experiences that are inspired by the Group values: Service, Professionalism, Innovation, Respect, Integrity, Teamwork.
Kanika HotelKanikaHotelFind the best hotels in Cyprus? With Kanika Hotels & Resorts you can choose to enjoy your holidays in any of our four hotels in Limassol, Paphos or Ayia Napa.