Ionian Hotel Enterprises

The Greek economy will benefit by 1.25 billion euros over a five-year period from the development and operation of the new integrated urban destination at the former Hilton Hotel in Athens, as a result of the €340 million investment by Ionian Hotel Enterprises.

Initiated by Athens Partnership (a non-profit organization founded by the Mayor of Athens, Giorgos Kaminis), a program titled "This is Athens - Polis," aims to clean up the city's historic center by eliminating tags and other vandalism on the city's walls, and at the same time add a new creative touch, for which an open call for artists has been issued.

Greece’s Alpha Bank SA has launched a process to sell Athens-listed Ionian Hotel Enterprises (IHEr.AT), owner of the five-star Hilton Athens, Reuters reports citing a source familiar with the matter.

Alpha Bank, which holds 97.3 percent of IHE, wants to receive expressions of interest by a deadline of March 11.

According to the source, Citi is advising Alpha Bank on the sale.