The ongoing interest for new hotel investments in Athens is indicative of the prospects for tourism in the post-pandemic era.
The data show that the crisis experienced by the hotel sector did not reverse some investment plans that had been launched for the creation of new units. The business interest in the tourism sector is demonstrated by at least 10 investments that have recently received approval for support from the competent services of the Ministry of Development and Investment and the Region of Attica, both in the centre of Athens and in the wider region. These large and small-scale investments should be added to the already known hotel investments underway in the capital and will increase Athens’ potential in terms of capacity.
More specifically, the General Directorate of Private Investments of the Ministry of Development and Investments decided to include for aid the investment project of the company EASTMED CAPITAL 44 MON. SA, which concerns the development of a 4-star hotel with a capacity of 150 rooms and 339 beds at the junction of 44 Piraeus, Kolonou and Agesilaou streets. The total eligible expenditure amounts to €14,9 million. The same Directorate decided to include for aid the investment project of the company STAMATIA ZISIMOPOULOU SA, which concerns the creation of a 4-star hotel unit with a capacity of 69 rooms and 158 beds at 116 Syngrou Avenue. The total eligible costs amount to € 5,4 million.
It also decided to include the investment project of AELLO M.I.K.E., which concerns the complete modernization and expansion of the capacity of the 5-star hotel PENTELIKON, with an initial capacity of 101 rooms with 166 beds and a final capacity of 118 rooms with 302 beds, in the Northern Suburbs, in the area of Kefalari. The total eligible expenditure exceeds €14,3 million.
At the same time, the Region of Attica decided to include 7 other smaller investments in Athens for new hotel units. Specifically, the investment plan of the company XLXIS INVEST I.K.E. was included, which concerns the creation of a 3-star hotel with a capacity of 6 rooms and 24 beds, with the conversion of an existing listed building at 76 Kolonou Street and 14 Odysseos Street in Metaxourgeio, for a total supported cost of €445,754. Moreover, the Department of Modern Monuments and Technical Works of Attica, Eastern Central Greece and Cyclades approved the study for the change of use from a shop to a hotel, with the execution of partial renovation works, internal arrangements, external painting and the construction of a pergola.
The second inclusion from the Region of Attica concerns an investment project of OKUPA ATHENS, which refers to the establishment of a 3-star hotel with a capacity of 32 rooms and 78 beds, with a total eligible cost of €2,08 million. The third submission concerns an investment project of the company ILIDA REAL ESTATE MANAGEMENT I.K.E., which refers to the establishment of a 3-star hotel with a capacity of 12 rooms and 43 beds, with a total eligible cost of € 826,477.
The fourth inclusion concerns an investment project of the company EASTMED THEMISTOKLEOUS MON. SA, which refers to the establishment of a 3-star hotel with a capacity of 30 rooms and 84 beds, with a total supported cost of €1,6 million. The fifth case concerns an investment project of A.M.P. commercial and industrial SA, which concerns the establishment of a 3-star hotel with a capacity of 16 rooms and 32 beds, with a total eligible cost of €592,879.
The sixth inclusion concerns an investment project of the company PERIANTH SA, which refers to the establishment of a 5-star hotel with a capacity of 12 rooms and 31 beds, with a total eligible cost of €1,4 million. The seventh subordination concerns an investment project of DOUKAS CITY HOTEL, which concerns the establishment of a 3-star hotel with a capacity of 9 rooms and 18 beds in the area of Koukaki, with a total eligible cost of €346,464.
