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Greece's latest tourism industry news by Greek Travel Pages (gtp)

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.

Separately, Hyatt announced that casino revenue last year was up 23,3% over 1998. Last year’s revenue reached 44.3 billion drachmas and this year’s total is expected to surpass 49.4 billion.

Meanwhile, Hyatt has tentative plants to construct a deluxe hotel, complete with a conference and exhibition center, on 42.000 square meters of property it owns on Kifissias Avenue. The hotel, next to the Olympic Stadium, will cost than 35 billion drachmas.

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