April 1998, together with Christos Papaloizou, Lakis Michaelides founded Smart Hotels Ltd. Their website can be found at www.smarthousinggroup.com. Smart Hotels Ltd is a hotel and housing company that manage approximately 700 residential units across several London Boroughs for private Landlords and Local Authority tenants.

The company has recently gained 3 to 10 year contracts in Kensington & Chelsea, Brent, Westminster and Newham. Smart Hotels Ltd have been in joint venture projects for accommodating asylum seekers directly with The Home Office and The Refugee Council. Smart Hotels Ltd. accommodated 80% of the Sandgatte arrivals in 2004.

Lakis Michaelides also a director and shareholder of a number of companies that own, develop and manage property mainly in London over with a total value exceeding £50m including even further companies, Waterkey Ltd, Metro Hotels Ltd, Classic Hotels Ltd, Apex Properties Ltd, Whitechapel Securities.

Lakis Michaelides also has an interest in one of the largest Wine and Spirit merchants in the South East of England, Venus Wine & Spirit Merchants PLC.

Venus Wine & Spirit Merchants PLC has a 5% market share of the restaurant and Bar wholesale and distribution market in the UK.

Lakis Michaelides and his Smart Group and Venus Wine and Spirits PLC were proud sponsors of the Radiomarathon Gala and Auction Evening in 2007.