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.
