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Offers In For Attica Beach Properties

Hellenic Tourism Properties called on the three consortiums that had bid for 10-year concession contracts for five state-run Athens beaches to improve their offers, both in the line of the lease fees and improvement works promised.

Anastasios Homenidis, the managing director of Hellenic Tourism Properties, which controls properties owned by the Hellenic Tourism Organization, said the bidders indicated they may collaborate so as to improve their offers. The five bids received give the property company a guaranteed income of 8 billion drachmas and minimum rent ranging from 4 billion to 14.39 billion drachmas.

The Attica coast consortium submitted an offer of 4.27 billion drachmas, with a guaranteed rent of 2.25 billion drachmas and a minimum rent of 1.8 billion drachmas for the Alimos beach. The same group also made a 4.56 billion drachma bid for the Vouliagmenis beach. They guaranteed to pay 2.36 billion drachmas, with the minimum rent set at 1.94 billion drachmas.

The Vernicos Yacht grouping entered bids for three beaches. They submitted a 1.87-billion-drachma offer for the First Voula beach. The consortium guaranteed to pay a rent of 1.16 billion drachmas and a minimum rent of 425 million drachmas.

The group’s bid for the Second Voula beach amounted to 1.22 billion drachmas. It also offered a guaranteed rent of 1.16 billion drachmas and a minimum rent of 440 million drachmas.

In bidding for the Varkiza beach, the Vernicos Yacht group teamed up with Zeus consortium, submitting a 1.6-billion-drachma offer. The guaranteed rent was set at 1.16 billion drachmas and the minimum rent at 414 million drachmas.

The bidders are required to upgrade the facilities, which include changing rooms, landscaping and dining areas. The property company had previously said that it expected a minimum investment of 2 billion drachmas for each property.

Mr. Homenidis also unveiled plans to exploit other real estate holdings around the country under the company’s control. The assets are estimated to be worth more than 1 trillion drachmas. The company will announce concrete plans at the annual general meeting on June 30.

Meanwhille, Mr. Homenidis announced that the Hellenic Tourism Properties had profits of 5.4 billion drachmas and revenues of 13.29 billion drachmas during its five months operation last year as limited enterprise, albeit one controlled by government.

Preliminary first quarter results showed a 75 percent surge in profits and a 35 percent increase in revenues. Full-year profits are projected to more than double to 19 billion drachmas from 8.5 billion drachmas in 2000, which brings its profit range from 33% posted in 1999 to 41% this year.

The Parnitha and Corfu casinos reported a 40 percent rise in revenues to 35.7 trillion drachmas and a market share of 17 percent over a five-month period.

Profits will be used to promote tourism abroad.

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