About Us

We are privately held real estate development company headquartered in New York City with a primary focus on luxury hotels and residences as well as land-based entertainment and retail projects. Flag Luxury was formed in 1997 by Dayssi and Paul Kanavos, who were driven by their passion for luxury hospitality and their desire to bring a forward-thinking perspective to the industry. Our ability to identify, acquire and build world-class projects in premier gateway city locations has established us as a leading development company in our industry.

Heritage

The Flag Group of Companies, the predecessor to Flag Luxury, was founded in 1946 by Peter J. Kanavos Sr. The group planned and developed over $4 billion worth of assets – including some of the first Marriott and Holiday Inn Hotels; the Intercontinental Hotel, Athens; the Sheraton Hotel, Brussels; and the Trade Fair Hotel, Lagos. Today, Flag Luxury – headed by Chairman and CEO Paul Kanavos – proudly carries on the Flag legacy with imagination and discipline. Through innovative financing, strategic partnerships and distinctive architectural execution, Flag Luxury remains at the forefront of today’s real estate industry.

Our Process

We identify, acquire, and develop a limited number of properties located in high-growth gateway cities. We only acquire sites in locations with steep barriers to entry and positive and well-established demographic patterns. We develop best-in-class luxury hotels and residences in cutting-edge, yet proven, locations within their respective markets. In addition, we develop entertainment and retail projects in leading tourist destinations such as Orlando and Las Vegas. We have enjoyed great results since our inception because of our disciplined approach to site selection.

We consistently adhere to the following principles to ensure enduring success:

  • Identifying and acquiring properties in AAA locations within high-growth gateway cities, with a focus on sites likely to benefit from shifting demographics.

  • Implementing conservative financing structures which ensure that completed projects are under-leveraged and positioned for long-term ownership.

  • Forming strategic partnerships with leading hotel operators and brands to achieve outstanding financial performance and long-term value.

  • Aggressively managing hotel assets where our operations expertise can benefit operators’ monthly performance on a consistent and sustained basis.

  • Conceptualizing and executing each project using a highly hands-on approach in collaboration with renowned architects and interior designers.