Investment fever in new hotels

By Eleni Botas

Barrages of investments in new hotel units both in Athens and in popular tourist destinations are getting the green light and are expected to start being implemented in the coming months.

Yesterday it was announced the opening of two new Hilton hotels in Attica, in Penteliko of Kifissia and in Mikrolimano.

As announced by Hilton and the SCD LTD group, as part of a management agreement with subsidiaries of SCD Group LTD, the historic Pentelikon, of the Curio collection by Hilton, an 117-room hotel in the luxurious northern suburb of Kifissia, will be its first hotel. Curio Collection by Hilton when it opens in 2024.

Also Hampton by Hilton Piraeus Mikrolimano, 83 room hotel that will open in the port of Piraeus, will be the first of Hampton by Hilton in the Greek market.

A few days ago, the Radisson Hotel Group announced the signing of an agreement for two new hotel units in Skiathos and Mykonos, with the HotelBrain group. The agreement concerns the Radisson Resort Plaza Skiathos, which will open later this year, and the Radisson Blu Euphoria Resort, in Mykonos, which will also be open before the start of this year’s tourist season. With this agreement, the Greek portfolio of the Radisson Group will number six hotels in operation and development.

Radisson Resort Plaza Skiathos will have 84 rooms and suites, a restaurant and bar with a terrace, swimming pool and wellness facilities, surrounded by lush greenery just 100 meters from the excellent beach.

At the end of next month, the 4-star Moxy Athens City Hotel is expected to open at 65 Stadiou Street in Omonia Square. The new hotel has been rented for 25 years by the real estate development company Dimand.

The building is owned by the Army Share Fund and the Armed Forces Officers Club and was converted into the first hotel of the Marriott group’s Moxy Hotels chain in Athens. The hotel has 200 rooms, while its management is undertaken by SWOT Hospitality Management Company.

Also recently, the Ministry of Development approved the inclusion in the scheme of strengthening Entrepreneurship of Very Small and Small Enterprises, the historic OTE building on Stadiou Street, which was acquired in 2016 by businessman Th. Douzoglou for a price of 13 million euros.

For this property, approval was given for the inclusion in the provisions of law 4399/2016 for the establishment of a hotel unit, category 5 *, with a total capacity of 91 rooms and 240 beds.

Also, the General Directorate of Private Investments of the Ministry of Development and Investments approved the inclusion of five investment projects in the scheme of strengthening the Entrepreneurship of Very Small and Small Enterprises, concerning the creation of new hotels in Athens, of “SMB 9 GREECE BRANCH ALLOP. E. “, which concerns the creation of a hotel of 103 rooms – 253 beds, on Ag. Konstantinou 7 and Socratous next to Omonia square.

Also the creation of a 4-star hotel with 77 rooms and 206 beds, in a building located at the descent of Syggrou Avenue in Kallithea, but also the creation of a 5-star hotel with 69 rooms and 100 beds in the area of ​​Metaxourgeio.

Finally, the green light was given to the company “ONE EIGHT TWO SOLE SHAREHOLDER REAL ESTATE SOCIETE ANONYME” (“ONE EIGHT TWO SA”) for the creation of a three-star hotel with 50 rooms and 106 beds near Synogon, Lekka Street MD REAL ESTATE AND HOSPITALITY SOCIETE ANONYME “(” MD Hospitality SA “), which concerns a 5-star hotel with 19 rooms and 55 beds with the utilization of an existing building, located in the Municipality of Athens.

Source: Capital

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