Tourism: Investment “explosion” in the shadow of the Acropolis

A place on the tourist map of Athens is sought by large international hotel chains and Greek entrepreneurs, who invest mainly in four-star and five-star hotels with the Acropolis in the background. The two years of the COVID-19 pandemic did not stop the investments in the hotel sector, which, this year alone, is expected to exceed 2 billion euros, further upgrading the tourist product of Athens.

In particular, in the center of Athens, after the operation of the five-star "Athens Capital Center Hotel MGallery" (in collaboration with the hotel giant Accor), some other important hotels are exoected to operate in the same region, namely the "Xenodocheio Milos", the "Anda Hotel Athens", a member of Radisson Individuals in Kolonaki and the new project of the Lebanese of Yazbek in the building of HAN in the Academias Street.

At the same time, the Brown Hotels chain is evolving into a particularly strong "player" in the center of Athens and especially around Omonia Square. The company that already operates Brown Acropol, recently inaugurated Lighthouse and Dave Red Athens, while preparing another unit on Evripidou Street as well as the reconstruction and revival of Sans Rival on Liosion Street. A hotel is also being prepared at the junction of Lykourgou and Socratous streets, while the investment of Prodea and Dimand-EBRD for the reconstruction of the Saroglio Megaron in Omonia begins, with the Moxy Hotels brand of the Marriott group.

Within 2022, the hotel "Esperia" returns to the hotel scene of Athens with a new name. The former "Esperia", which closed in 2010, is already being transformed by the Fattal into a five-star "Nyx Athens", aiming to be a reference point for the wider area, as it is located...