In the middle of Greece’s peak summer season, intensive inspections by the Independent Authority for Public Revenue (AADE) have reached one of the Cyclades’ most recognizable luxury dining destinations.
- The tax authority imposed a 48-hour suspension of operations on Barbarossa, the iconic restaurant in Naoussa, Paros, following an inspection that reportedly identified failures to issue the required fiscal receipts.
The enforcement action carries particular significance given the restaurant’s international ownership structure and high-profile expansion strategy.
- Founded in 1987 by Giorgos Chamilothoris, Barbarossa has evolved from a local seaside restaurant into a globally recognized hospitality brand. It is now controlled by Greek investor Petros Stathis through Monterock International, in partnership with Alpha Dhabi Holding, part of the investment ecosystem associated with Sheikh Tahnoon bin Zayed Al Nahyan of Abu Dhabi. The brand operates under the umbrella of ADMO Lifestyle Holding.
Stathis has played a leading role in the group’s international expansion strategy, helping extend the Barbarossa concept beyond Greece to destinations including Bodrum, Cairo and the Athens Riviera.
- The tax enforcement action comes despite the company’s strong financial performance. According to its latest published financial statements, Barbarossa generated €5.1 million in revenue during 2024, reported net profits of €808,000, representing a 19% year-on-year increase, and maintained no outstanding bank debt.
While the temporary closure is unlikely to affect the financial stability of the investment group, it represents a reputational setback for a luxury hospitality brand that has positioned itself as an international lifestyle destination.
The company has not publicly commented on the findings of the inspection. As is customary in such cases, any further administrative or legal proceedings will follow the procedures provided under Greek tax legislation.
