According to the GBR Hospitality Newsletter, in February it was announced that Zeus International has reached a lease agreement of the Poseidon Resort in Loutraki, a 5 star unit of the Argyrou family located at a one hour drive from Athens.
The indebted hotel will be rebranded as the 108-room Wyndham Loutraki Poseidon hotel and the 207-room Ramada Loutraki Poseidon. Ramada is a brand of Wyndham Worldwide.
Zeus International, as part of a wider development plan with the Wyndham Hotel Group signed deals in March with 2 hotels of the Xenotel Hotel Group in Attiki: the 346-room Mare Nostrum in Vravrona and the 129-room Aqua Marina in Nea Makri. The hotels will be rebranded as the Ramada Plaza Attica Riviera and the Wyndham Garden Attica Riviera and will be in operation as such from 2018.
Accor, which currently has the Novotel and Sofitel in Athens in their portfolio, announced in March that it will expand with an Ibis Styles hotel in Heraklion, Crete. The 72-room Ibis Styles Heraklion Central Hotel will be constructed by Polis H.M. S.A with a budget of € 15 million. Furthermore, Accor is planning for a first Ibis hotel in Athens and a Novotel in Piraeus.
In February Eurobank confirmed that out of 5 bids the preferred buyer of the 700-room Capsis hotel is Nikos Koutras, owner of two major resorts on the island of Kos. However, the deal, which involves an amount of € 30 million has not been finalised.
Latest developments in Athens
The fourth auction of the 314-room Athens Ledra at Syngrou Avenue and the first auction of the 208- room La Mirage hotel at Omonia Sq failed despite expressed interest from local and foreign investors. In both cases there were no bids.
According to press reports there is strong interest from hotel enterprises in the tender for a long-term lease of a property located at Panepistimio St, near Syntagma. The 9-floor property of 13,244 sqm used to house the Agrotiki Bank and many years ago it was home to the King’s Palace hotel.
In 2017 two new boutique hotels started operations. At Syngrou Avenue the 13-room NHL Fix hotel opened as the first hotel of a new chain, Neighborhood Lifestyle Hotels, which is planning to open another 3 units in Athens by the end of 2018. The second unit, the 18-room NLH Gerani will be opened this year near Omonia Sq. Furthermore, the 25-room Lozenge Hotel re-opened in Kolonaki, which was formerly known as the Lycabettus Hotel.
Various other new boutique hotels are planned in Plaka at the former Aiolos hotel (1836), in Mitropoleos St (Grecotel), near the Acropolis (Coco-mat), in Kolonaki and at a building at Filelinon St.
Developments at resort locations
In Chalkidiki the Tor Hotel Group, of the Tornivoukas family, has just opened the 5 star Eagles Villas on a plot next to the 5 star Eagles Palace resort of the group on the Mount Athos Peninsula. Total investment of the 40 villas amounts € 11.5 million. The Tor Hotel Group also operates the Excelsior and the City Hotel in Thessaloniki.
At the end of June Sani Group will open the new 5-star 136 room Sani Dunes within Sani Resort. The total investment amounts € 24.2 million.
Finally, plans have been released for the construction of the 92-room 5 star Blue Lagoon Palace hotel with a budget of € 12 million, next to the 5 star Blue Lagoon Princess, operated by the Blue Lagoon Group.
In Crete, adjacent to the 5 star Nana Beach hotel, Karatzis S.A. has started construction of the new 120-room Nana Imperial in Hersonissos. Almost all suites and villas will have private pools. The hotel will start operations in April 2018. In addition the mother company of Karatzis S.A. is planning for another 350 rooms resort at a coastal property of 140 stremma in Ierapetras, Lasithi.
The Hersonissos Group of Hotels, which owns and operates 7 hotels in the area of Hersonissos will construct the new 150-rooom 5 star Abaton Resort with an estimated budget of € 25 – 30 million
In Rhodes plans have been announced for the development of 187-room 5 star hotel by Ammos SA in the area of Lindos.
Finally, in Zakynthos the new 5 star 93-room adults only Lesante Blu Exclusive Beach Resort will open in May at a beachfront plot in Tragaki, Zakynthos.