The property will be Hilton's second in Greece after the Hilton Athens, and is the first Doubletree by Hilton resort in the country.
The hotel, which originally opened as an independent property in June 2009, will reopen in May as Doubletree by Hilton Resort, Kos - Helona.
It will offer 238 rooms, spa and fitness facilities, and 800sqm of meeting space including a room for up to 700 delegates.
Hilton Worldwide senior vice-president of development for Europe and Africa Patrick Fitzgibbon said the announcement marked the beginning of the group's expansion in Greece.
"Hilton Worldwide is continuing its rollout of its portfolio of brands across Europe," said Fitzgibbon. "With the hotel market in Greece dominated by independently-run hotels and domestic chains, we believe there are wonderful growth opportunities for all our brands across the country."
Hilton introduced the Doubletree brand in 2008 and it now has ten such properties in the UK and Europe, with further developments confirmed for Russia and Romania.