Greece’s Coco-mat Hotels & Resorts has announced plans for the addition of a five-star, 90-room hotel to its Athens roster, set to open by 2019.
Budgeted at 10 million euros, the new hotel will be located near the Acropolis Museum and joins Coco-Mat Hotel Nafsika in Kifissia and the Coco-mat boutique Hotel Athens in Kolonaki. The Acropolis hotel aims to showcase the ancient finds in the area in specially designed constructions while retaining its minimal aesthetic and luxury offerings.
Coco-mat Hotels & Resorts is owned by the Efmorfidis family, which launched operations as a mattress company some 30 years ago growing into an international brand and expanding into tourism and as of late into real estate through its new real estate investment company set to enter the stock market in 2018.
“Athens is a strategic choice for us… and we believe the hotel sector has not yet reached the skies…,” George Pertesis, in charge of Coco-mat’s hotel unit and Christos Bobolias, behind the company’s new real-estate investment entity, told online Greek media newmoney.gr.
“In recent years, due to the crisis, substantial work has been done in Athens tourism, which suffered considerably at the beginning of the crisis. The good news is that new efforts are not short-lived or temporary and that investments made, precisely because of the difficulties in financing, are mainly carried out with equity, which ‘hurts’ entrepreneurs. This new world order is reflected in the destination’s performance,” added Pertesis.
Meanwhile, besides its three Athens hotels, Coco-Mat operates eco residences on the island of Serifos and has plans to expand to lesser known destinations across Greece with tourism projects.