Hyatt to open first Grand Hyatt in Greece in third quarter

Hyatt Hotels Corp. will open its first Grand Hyatt hotel in Greece and its third in Europe, the company said, underscoring the growth in tourism in the country.

The 310-room 5-star luxury hotel is expected to open in the third quarter, Hyatt said, in the premises of the former Ledra Marriott Hotel. The Ledra, with stunning Acropolis views, once hosted Hollywood stars and politicians but was forced to shut in 2016 by the economic crisis after more than three decades.

The project marks "a significant milestone in Southeast Europe, an important growth market for Hyatt," said Takuya Aoyama, a Hyatt vice president for Eastern Europe, Russia and CIS.

Tourism, together with shipping, is Greece's main industry, driving a tentative economic recovery after years of depression that pushed unemployment to record highs.

The country of about 11 million...