The project was designed by the architect P. Zizilas in 1911, inspired by the ideas of the owner Sotiris Anargyros, who was a famous cosmopolitan figure of the time and the benefactor of Spetses Island. The hotel opened for business in 1914 and immediately met a social need and provided a holiday spot for residents of Athens.

After the war it went into decline, but was renovated in 1960 and experienced a short boom. Changes in ownership, hotel business withering. However, in 2005 a group of businessmen undertook to breathe new life into the charming, listed shell of the hotel and to create a unique holiday destination full of history, after the necessary repairs and modernization were carried out. The buildings were fullly renovated and bathrooms and other necessary facilities were radded. A new, eighteen-room wing was added along with an office building and two small exhibition spaces. The result is a hotel with fifty eight rooms of various types and sizes.