The British investment group “London And Regional Properties”, which specializes in the hospitality RE market, acquired hotel Titania in Athens city center. The price has not yet been announced, but reportedly the acquisition cost approximately €50 m.
London & Regional first investment in Greece was Amathus hotel in Rhodes that amounted to 30 million euros. The fund is also after another investment in Mykonos island.
Titania hotel has a capacity of 385 rooms and 754 beds, of all categories (standard, family, superior, executive, junior suites & deluxe suites). The renovation of the 4th & 5th floors of the hotel has begun in November 2018. The management of the hotel has invested more from €6 m over the last four years in infrastructure update.