REDS to enter hotel sector with Kifissias property renovation

REDS, part of the Ellaktor construction group, will enter the hotel sector by undertaking the refurbishment and management of a property on Kifissias Avenue, across the road from the Golden Hall Mall.

The eight-story building, which operated as a hotel in the past, is owned by the Hellenic Olympic Committee and is located in a prime business area where accommodation options are scarce.

The building was leased by a consortium that includes Ellaktor (70%) and SWOT Hospitality (30%), which will operate the hotel. The lease is for 25 years, with a 10-year extension option.