The Lebanese YAZBEK leased the YMCA building in Athens center
Reportedly the Lebanese hotelier YAZBEK has leased the YMCA building on Akadimias street and will turn it into a 4-star hotel with approximately 90 rooms. Last year Mariott opened its new boutique hotel very close to the YMCA building, the Academy of Athens Autograph Collection. The building is owned by the Naval Retirement Fund, and has also been leased by Yazbek Hotel Establishment.
Meanwhile a large-scale project of the Grecotel Group on Corfu is expected to be announced soon, while Sani-Ikos group is also planning to launch new business ventures in Corfu, Crete and Rhodes.
Hine’s deal with Cean Hotel chain in Crete is expected to be completed by the end of January, while there have been delays reported in the Savvidis-Stengos negotiations for the purchase of the Porto Carras Hotel in Halkidiki by the Russian-Greek businessman.
The operation of the Kokkalis Group Hotel on Kolokotroni str in Athens has been delayed, while the Brown Hotels hotel on Omonia Square will finally open in March.
According to the Association of Greek Tourism Enterprises, €5.6 bn were invested in the Greek hotel market over the last three years.
Original Source: Bankingnews.gr
Adaptation/Translation: Kiki Athanasiadis