Petros Stathis, the 'King of Luxury' on the New Restaurant and Hotel Trends for 2025

Petros Stathis has quietly but surely built his reputation as a pioneering force in the global luxury market. The Greek entrepreneur, dubbed the “King of Luxury”, is the chairman of Monterock International which holds a diversified portfolio spanning luxury dining, high-end hotels, carbon fiber recycling, and even banking. He has many things to be proud of, but the jewel in his business crown is arguably Nammos World – of which Petros is Chairman - and especially its operation in Dubai.

Originally established as a beach bar and restaurant on the luxurious Greek island of Mykonos, Stathis transplanted the brand and concept to the equally opulent Emirate of Dubai, where it was a runaway success. In 2022, just a few short years after opening its doors, it became the highest-grossing restaurant in the world, achieving a breathtaking $71 million in turnover that year.

What makes this feat even more remarkable is that it was Stathis’ first foray into the restaurant business. His career began in politics as an advisor to Greece’s Minister of Culture and Sport, and then moved into real estate development, before being drawn towards the luxury food and beverage sector. His ventures include the Palazzo housing the glittering AMAN Hotel Venice, and investments in global hospitality brands like Nobu Santorini.

Launching Nammos Dubai in 2019, he created a luxurious dining destination that now attracts a global elite clientele. Its success has driven Monterock to oversee the international expansion of Nammos. OK! magazine sat down with Stathis to understand more about his acumen for luxury.

How did you come to have the nickname the “King of Luxury”?

It’s a good one, don’t you think? Personally, I try to lead a modest life, but the famous travel journalist who first gave me the name was right about one thing: I learnt early in my career the power of brands, and I’ve built a major international business focused on introducing them to new markets. The AMAN hotels in Venice (where George and Amal Clooney married) and in Montenegro (frequented by Brad Pitt and Angelina Jolie) are examples of how we’ve opened new doors for world class brands. Now we’re taking a major step forward and are building-out international brands as operators, starting with Nammos World the Mediterranean restaurant, beach club, Hotel and lifestyle brand, and the CÉ LA VI iconic rooftop bar brand.

What’s the latest in the world of restaurants and hotels?

I think in the food and beverage sector people are looking for a combination of something new and something familiar. For example, at Nammos Dubai we introduced cabins and interior themes with Dior: a fusion of the new luxury of the Nammos brand and the renowned luxury of the century-old Dior.

In the hotel sector, it’s different again. People love the established luxury brands but are keen to experience something new. It is why our ultra-luxurious Nammos Resort on the Greek Island of Mykonos complete with its own ultra-high end shopping concept with LVMH has been such a success, and why we are building on that to launch a Nammos resort in the Maldives in 2026.

Nammos Dubai has been a huge success. What inspired you to bring this brand to the Gulf?

I had been living in Dubai for several years and noticed a gap in the market for a Mediterranean-inspired dining experience. Dubai’s culinary scene is vibrant, but I wanted to introduce something that combined the luxury and charm of the Greek islands with a modern, exclusive ambiance. This vision gave birth to Nammos Dubai, and its success has fortunately exceeded our expectations. Last year turnover was $70 million – surpassing Nobu Miami as the highest earning restaurant in the world.

Nammos achieved the title of the highest-grossing restaurant globally. What do you think sets it apart?

The restaurant business is a crowded sector, so you must look beyond the food that you put on a customer's plate. It’s more about creating a dining experience, and this consists of many elements: from the location to the ambiance to the service. Every detail must be designed to evoke a sense of luxury and exclusivity. And of course, you can’t ignore the menu. That's what underpins everything. I think at Nammos Dubai we’ve succeeded in creating a lifestyle experience that resonates with our clientele.

Dubai has become a global hub for luxury dining. What role do you think the city plays in shaping the future of this industry?

Dubai is uniquely positioned as a crossroads between East and West, attracting a diverse and affluent clientele: not only those who live there but from professionals on business trips to international celebrities on holiday, there’s serious demand for high-end hospitality such as we offer with Nammos. The government’s proactive support has turned Dubai into a launchpad for global luxury brands. It’s a city that embraces bold ideas, which we have found ideally suited to our vision.

What made you decide to bring CÉ LA VI to Dubai?

CÉ LA VI is an iconic brand known for its rooftop sky bars that combine fine Asian fusion cuisine with breathtaking views. Its aesthetic draws from the artistic heritage of South-East Asia, offering a unique blend of elegance and sophistication. After its success in cities like Singapore and Tokyo, I felt Dubai was the perfect next step. It’s a very vertical city with countless high rises and the weather is almost always warm, which makes it a perfect setting for rooftop dining. Also, in the Address Sky View hotel we’ve found a stunning venue that complements the brand’s ethos of luxury and exceptional dining.

Can you tell us more about the challenges you faced when opening Nammos Dubai?

We launched in late 2019, right before the pandemic. I’m not sure there was a worse time in modern history to open a business such as ours. Luckily, the UAE’s efficient response to the crisis, especially its rapid vaccine rollout, helped us recover faster than many other markets. This really helped us get back on our feet and go on to achieve the success that we have.

You’ve operated in the Emirates for over four years now. What have you learned about the local clientele?

People here love two things: luxury and brands. They’re discerning and accustomed to the finest things in life, which means you need to go above and beyond to attract them. This really pushes us to innovate and ensures that every detail is perfect, from the ambiance to the culinary offerings. It’s challenging but also exciting because here you have the space to push the limits of your capabilities and ambitions.

What’s next for Monterock International?

We are currently focused on the expansion of Nammos World globally. Nammos World now sits in ADMO Lifestyle Holding which is a joint venture between Monterock International and the UAE’s Alpha Dhabi Holding. As well as the original Nammos Mykonos, we now have operations in Cannes in the South of France which will have a spectacular opening this summer, and in Limassol in Cyprus which is already open. We also have openings planned for later this year in London and the Kingdom of Saudi Arabia, and for next year in the Maldives. Each venue will reflect the local culture while maintaining the essence of luxury that defines Nammos. We will also launch CÉ LA VI in London this year too, at the iconic Renzo Piano Building Workshop-designed Paddington Square. Beyond hospitality, Monterock will continue to explore ventures that drive innovation and excellence in the lifestyle sector.

About Author

This article is written by Edwin Austin, a freelance writer.