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.