The completion of the sale of the Athens Hilton to Home Holdings on Friday opens the way for the company’s plans for new and more luxurious services, according to a Kathimerini report.
Alpha Bank, owner of Ionian Hotels to which Hilton belongs, sold 97.3 percent of Ionian Hotels to Hone Holdings, whose shareholders are TEMES SA and D-Marine Investments Holding BV. The purchase price was 76.1 million euros, with the total revenue for Alpha amounting to 143.3 million euros, as it includes the refinancing of Ionian’s loans (67.2 million euros).
According to Kathimerini, Hilton has an operation contract for the emblematic Athens hotel until March 2018 and the new owner will examine the possibility of extending the contract before holding discussions with other international chains.
The new owner is considering turning the building into a condominium hotel, with Greek law allowing for the sale of up to 50 percent of a hotel’s rooms as luxury accommodation. Home Holdings is also planning to create entertainment facilities and new stores in the unit.
TEMES is the owner of the luxurious Costa Navarino resort in the Peloponnese, while D-Marine is a subsidiary of Turkey’s Dogus Group.