Athens Attracts New Hotel Investments

Athens Attracts New Hotel Investments

Athens is attracting increasing investments for new hotels, boosted by expectations of a further rise in tourist arrivals in the Greek capital, although these investments were not altering yet the existing hotel map of Athens, Alexandros Vasilikos, president of the Union of Athens, Attica and Saronic Bay hoteliers told ANA.
He stressed that the challenge was not to just raise the number of hotel beds -Athens had almost the same number of beds during the Athens 2004 Olympic Games- but the modernization of hotels which will signal the upgrading of tourism in general.
Vasilikos said that the acquisition of Astir Hotel, Hilton and Ledra by new investors will add to the city's glamour and attract more travellers, but the fact is the Athens lost around 80 hotel units during the crisis, while new hotel investments totaled 15 in the last few years.
The Hotel Chamber of Greece said that the number of hotels in Attica fell 3.0% to 649 units in 2016 from 669 in 2005, while the number of rooms fell 4.3%.

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