Online Auction for Xenia Property in Komotini Begins

Photo source: ETAD

The bidding process for a concession for the historic Xenia hotel in Rodopi, Komotini, northeastern Greece, has launched via an e-auction by the Public Properties Company (ETAD in Greek).

Located at 43 Sismanoglou Street, in Komotini’s city center, Xenia Komotini is situated some 600m from the city’s main square (Irini square) and about 2,800 m from the nearest exit of the Egnatia Highway. The size of the plot is 18.205,16 sq.m and the Gross Buildable Area is 2.134,44 sq.m. The GBA is possible to be increased based on the existing planning parameters

Visuals of the Xenia Komotini property from ETAD’s presentation.

The Xenia Komotini property in the past operated as a three-star hotel, with a capacity of 26 rooms/46 beds. The building consists of two wings: the left wing includes an elevated ground level and the first level, where the accommodation facilities (rooms) are located and the right wing contains also an elevated ground level, including the lobby, a restaurant, a bar and auxiliary facilities (WC, kitchen, etc.). Its surrounding area includes a small church, outdoor swimming pool (main and mini), a water fountain, a playground and an outdoor parking lot.

ETAD aims to attract investors to renovate, upgrade and operate the Xenia property again as a hotel. The selected bidder will bear all costs for the hotel’s complete renovation and operation. The duration of the lease is set at 30 years from the signing of the contract, with the possibility of its extension for 20 years. The starting price of the annual lease amounts to 35,000 euros. ETAD will be accepting bids until October 29.

Further information can be found on ETAD’s website www.e-publicrealestate.gr.

Komotini is a very vibrant city, populated by a great number of students and foreign visitors mainly from the Eastern Balkans and Turkey.

The property is part of the renowned Xenia hotel chain, once a major hotel construction program launched by the Greek National Tourism Organization that ran from 1950 to 1974.

ETAD is a state organization for the management of public real estate and its portfolio of properties includes 31 Xenia hotels that are located in various Greek destinations.

Xenia history

From 1950 to 1974, the Greek National Tourism Organization (GNTO) carried out a program of hotel and motel construction to boost Greece’s tourism development.

The Xenia hotels were characterized by their high quality and aesthetics and constructed within the framework of a tourism policy that aimed for Greece’s economic development.

Built in prime locations, they strongly bore the mark of the inspired Greek architect, Aris Konstantinides, and perfectly adapted to the Greek landscape as if they had always been there. They had an ideal positioning, combined indoor with open-air spaces, internal patios and courtyards, large windows, balconies that offered the best views of each location.

Over 40 “Xenias” constituted a unique network of complexes that boasted excellent architecture and construction.

Today, surviving examples of the Xenia hotels have been substantially altered or have fallen into disrepair.