Athinaion Tourist Enterprises SA and Yes! Hotels Group have merged to create the new Donkey Hotels chain in Greece.
The announcement of the new chain follows the absorption of YES! Hotels by Athinaion SA (Athenaeum Intercontinental Hotel), owned by the Ioannou family.
Focusing on hotel development and management, Donkey Hotels will look to acquire existing hotels in urban centers and also to develop new units in popular destinations in Greece.
The new scheme will be run by experienced Greek hospitality industry executives who will aim to strengthen Donkey Hotels’ expansion by attracting domestic and international investment funds in the near future.
The Ioannou family will control more than 94 percent of Donkey Hotels.
“With this move we aim to highlight our successful presence in the hotel industry and create economies of scale and synergies that will give great momentum to Donkey Hotels,” the chain’s president, Christos Ioannou, said in an announcement.
The total floor space of the units in Donkey Hotels’ portfolio have a size of some 85,000 square meters. It is noted that Donkey Hotels will focus on a strategic Corporate Social Responsibility plan.
So far the chain’s portfolio includes the luxury 5-star Athenaeum Intercontinental in Athens that has a capacity of 563 rooms; the 51-room Semiramis (member of Marriott’s Design Hotels) in Kifisia, Athens; the 79-room NEW Hotel (member of Marriott’s Design Hotels and of Virtuoso luxury travel network) in central Athens; and the 22-room Periscope (member of Marriott’s Design Hotels) in central Athens.
In the spring of 2022, Donkey Hotels will welcome a new entry to its portfolio: a hotel on the renowned Greek island of Santorini. The new hotel will have 121 rooms, half of which will have private pools.
According to Ioannou, Donkey Hotels is focusing on the strong prospects that are expected for Greek tourism once the pandemic subsides.
“Equipped with the innovative design of the YES! chain and the high aesthetics of the Intercontinental, our goal is to create new units that will harmoniously combine and develop this dual heritage. Our priority is always to provide top quality services for our visitors,” he said.
Donkey Hotels will also be run by Thomas Giolmas as executive vice president, Panos Panagiotopoulos as the director of the Athenaeum InterContinental and Stefania Flenga as the general manager of Yes! Hotels.