Positive 2017 Results Spur Lampsa Group’s Future Activities

Hotel Grande Bretagne

Greek hotels group Lampsa is seeing all its investment efforts pay off with sales, profit and occupancy levels at its units on the rise paving the way for the further development of its activities in the coming years.

King George Hotel

Lampsa Hellenic Hotels SA reported increased occupancy rates at its two central Athens hotels, the five-star Grande Bretagne and the neighboring King George at 74.99 percent from 68.39 percent in 2016 resulting in a significant rise in average room rate to 287.14 euros from 258.56 euros in 2016, with average revenue per room (RevPAR) up by 21.78 percent.

The Grande Bretagne recorded a 20.27 percent increase in full-year sales for 2017 as did Κing George by 19.17 percent.

Meanwhile, activity at the group’s Sheraton Rhodes Resort also increased with sales up to 11.351 million euros from 9.9 million in 2016 and full-year 2017 EBITDA at 3.3 million euros from 2.1 million a year before.

The Sheraton Rhodes Resort.

With regard to its units in Serbia, the Hyatt Regency Belgrade marked an 18.35 percent rise in sales as did the Belgrade Excelsior by 21.13 percent.

The Greek-owned company said last week that its full-year 2017 sales came to 62.7 million euros compared to 52.4 million euros in 2016, net profit at 8.8 million euros versus 1.9 million a year before, and EBITDA at 17.5 million euros against 13.0 million in 2016.

In December, last year, Lampsa announced the 30-year lease of the building that once housed the historic Kings Palace Hotel located in central Athens with plans to renovate it and launch operations in 2019.