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hospitality Market News: Spanish Real Estate Intelligence

Former Esperia Hotel in Athens to be renamed to Leonardo Royal Esperia Palace

The former Esperia Hotel on Stadiou Street will operate under the name Leonardo Royal Esperia Palace Hotel Athens, as revealed by the website Leonardo Hotels & Resorts.

The Leonardo Royal Esperia Palace Hotel in Athens is a central urban retreat within walking distance from the Acropolis.

Leonardo Hotels Greece is a subsidiary of Leonardo Hotels & Resorts, an international chain owned by the Israeli investment group Fattal Hotels and ISSTA Lines. Leonardo Hotels operates more than 200 hotels in 18 countries in Europe and Israel.

Τhe former Esperia Hotel belongs to EFKA, a social security fung in Greece, and it was leased to the Fattal Hotels for a 30-year period with a 10-year extension, following an international restricted tender. The investment will contribute to EFKA € 1,150,000 annually, while a minimum of € 10,5 million will be invested in the conversion of the building into a 5-star hotel.

Philian Hotels & Resorts bought Galini Hotel on Skiathos

Philian Hotels & Resorts Group of Koukoulaki family announced the purchase of Galini Hotel on Skiathos island.

The hotel is located in the area of Big Ammos, 200 m from the beach and 5 minutes from the island's Chora (main village). This is the Group's sixth hotel in Skiathos and the 12th in Greece.

Philian Hotels & Resorts Group operates in Thessaloniki, Skiathos and Halkidiki. With this addition, the Group exceeds 500 beds in the above areas.

Hard Rock International to invest more than € 1 bn in Elliniko

Hard Rock International announced the company’s participation in the Greek Government’s RFP process to issue a license for an integrated resort and casino at the former Elliniko Airport site in the historic city of Athens, Greece. The announcement follows over a year and a half of work on the project and if awarded, construction for the project is estimated to take 24-26 months.

During a local press conference at the company’s Hard Rock Cafe in Athens, Chairman and CEO of Hard Rock International, Jim Allen shared the company’s vision for Elliniko. “We have always believed Athens to be of the world’s great gateway cities and Hard Rock International envisions creating a must see destination that will help draw from the over 120m annual guests across 74 countries, driving year-round tourism and being an economic driver for Greece.”