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Astir Resort Expects Five Billion From Stock Float

Greece's National Bank, owner of the Astir Hotel Company, has placed the three-hotel group on the Athens Stock Exchange. The initial public offering last month places 14.7 billion drachmas within the group's coffers. This cash will be used mostly to initiate a five-year...

Greek Hotels Expensive

Up-market Greek hotels for business travelers are on the average the fourth most expensive in the world. And it looks like prices are going even higher. According to a study by BTI UK Hogg Robinson, which was published by the Hellenic Travel and Tourism Agents' Association, last...

Louis Hotels Buys Colossos Beach

One of the biggest and best-known first-class resort complex in Greece, the 472-room Colossos Beach of Rodos, is now in the hands of Louis Hotels. Furthermore, with its purchase of 68.3% of Colossos, Louis gets 25,000 square meters of beach property.

Athenaeum InterContinental Renews Conference Areas

The biggest conference venue within the City of Athens, the ballroom at the Athenaeum InterContinental hotel, is undergoing extensive renovations worth 950 million drachmas.

Athens Hotel Owners Agree To 2004 Room Availability

Athens hoteliers have agreed to set aside 80 percent of the capital's beds to accommodate the Olympic family during the 2004 Games. At a meeting last month with Development Minister Nikos Christodoulakis and Athens 2004 Organizing Committee Chairwoman Yianna...

Plans Underway To Merge Grande Bretagne And King George Hotels

The Hyatt group of Thessaloniki, which has acquired a majority of shares in the Grande Bretagne hotel, and the Latsis-owned Eurobank are said to be close to finalizing an agreement to merge the classic Athens-center hotel and the defunct King George Hotel that sits empty next to it.

Athens Chandris Transformation Includes Name Change

Upon completion of its extensive and even radical renovations, at a cost of some five billion drachmas, the Athens Chandris Hotel assumes a new identity. The deluxe cosmopolitan unit heretofore becomes the Metropolitan Hotel. "We at Chandris Hotels and Resorts thought it only...

Hyatt Regency Buys Grande Bretagne Shares

Through share purchases on the Athens Stock Exchange, the Hyatt Regency of Thessaloniki purchased at least 17% of the Athens-central deluxe hotel Grand Bretagne. Hyatt said it would acquire additional shares if the open-market price is reasonable.

Athens Hotels Strike Deal With Olympic Commitee

A partial deal between the Athens 2004 Organizing Committee and the capital’s hoteliers’ union on accommodation for Olympic Games’ visitors to Athens was reached last month with the assistance of Development Minister Nikos Christodoulakis.

Hyatt Looks To Expand

Greece's Hyatt Regency aims to expand its hotel-casino business in the immediate future to countries outside of Greece, says the company's chairman, Georgos Galanakis. He did not, however, exclude expansion in Greece and said the company would utilize every business opportunity...

Chios Chandris Reopens

The Chandris hotel group recently completed a billion-drachma renovation of its unit on Chios island as part of efforts to meet the growing demands of the tourism market.

Tourism Units Head For Stock Market

At least four tourism enterprises head for the Athens Stock Exchange this year in search for cash. The Astir Group wants 18 billion drachmas, the Divanis group 20 billion, the Club Hotel Loutraki 55 billion, and the Casino Xanthis two billion drachmas.

Airotel Group Expansion Centers On Quality

Stratos Vasilikos is one of the few in the Greek tourism industry who realized early that quality is the only way to compete and make money. In a step-by-step approach, he practiced what he preached.

Nafplio Xenia Taken Over By Mantonanakis Group

The Mantonanakis Group recently signed an agreement for the long-term lease of the Xenia Akronafplias hotel group of Nafplio, which is owned by the Hellenic Tourism Organisation (EOT). The organization's general secretary, Evgenios Yiannakopoulos, and Mantonanakis company's...

Utell launches ‘Discover Greece 2000’

Utell, the worldwide hotel reservations and marketing service of REZsolutions, has launched 'Discover Greece 2000' program in conjunction with Astra Hotels. A dozen destinations within Greece are spotlighted within the program. The destinations spotlighted include Athens,...

Star City Project Begins Next Month

Construction on a major league tourism and recreation park in the Athens area gets underway next month. The 18-billion-drachma "Star City" venture covers some 278,000 square meters of beachfront property in the Athens suburb of Glyfada.

Grecotel Opens Omonia Grand Hotel

Greece's biggest hotel chain, Grecotel, last month officially opened its new city-center hotel, the Omonia Grand. This second city hotel of the group stands proudly in front of the capital's second most popular square, Omonia. Its first city unit, the 5-star Athens Plaza, faces...

Athens Hoteliers Sign Athens 2004 Contracts

At least five Athenian hotels have signed contracts with tour and travel offices for room bookings during the 2004 Olympic Games.

Room And Apartment Holiday Lodgings Get “Key” Category System

Greece's hoteliers have finally accepted rental rooms and apartments as official holiday lodgings and have agreed with the adoption of the "key" category system for rating these lodgings. Owners of rental rooms and apartments, in the meantime, have adopted the unofficial slogan...

Divani Apollon Palace Opens

The fully-refurbished five-star Divani Apollon Palace hotel in Kavouri, south of Athens, held its official opening ceremony last month with a rich evening reception. Development Minister Venizelos carried out the inauguration.