Chain-brand Hotels on the Rise in Greece
Greece is beginning to attract the interest of major chains for the construction of new hotels and the investment in new accommodation enterprises.
Triggering the interest were the sales of two of Athens’ landmark hotels: the Astir Palace (Asteras Vouliagmenis) and the Athens Hilton earlier this year.
In the meantime, plans to upgrade the former Hellenikon airport, aiming to attract an added one million tourists to Greece per year, is paving the way for interest in the accommodation sector with hotel chains such as Four Seasons (said to be behind Asteras), Mandarin Oriental Hotel Group, ΤΕΜΕS and D-Marine Investments Holding eyeing the Hilton, and according to local media reports, Kerzner International’s One and Only Resorts, currently seeking a Greek partner to step in to the Greek market. Marriott, meanwhile, appears to be in talks with Chandris Hellas for a cooperation regarding the Metropolitan Hotel.
Wyndham Hotel Group has also made its way into the Greek market with plans to open at the start of 2017 its first hotel in Greece — the Wyndham Grand Athens — in the heart of the Greek capital.
“Athens is our first stop in Greece, as we have identified multiple opportunities for many of our brands across the country, from city centers like Athens and Thessaloniki to holiday destinations on the Greek islands and mainland Greece,” said Dan Ruff, president and managing director of the Europe, Middle East and Africa (EMEA) and Indian Ocean regions, Wyndham Hotel Group.
In the meantime, the Greek capital last month welcomed the four-star Athens Avenue Hotel and the four-star Athens Tiare Hotel. Also, the new five-star Electra Metropolis Athens is expected to opens its doors on September 16.