Marriott

Gazprom, Russia's state-owned energy giant, has announced plans to sell several of its holiday resorts following its first annual loss in nearly 50 years, according to reports from Reuters. The company has listed 14 hotels and resorts for sale, including the Tsaghkadzor Marriott Hotel in Armenia's Valley of Flowers.

Piraeus Port Authority (OLP) is in the process of reaching out to Greek and foreign hotel groups for the development of four hotel units that form part of parent company Cosco's investment plans in Piraeus.

Since the end of last year, there is a hole into the center of Sofia becoming deeper and deeper. Those living in neighboring buildings feel the vibrations. They are curious about what is being built. The answer is - the highest hotel in Sofia (107 meters), which will be part of the Marriott chain. At present, the world-famous chain has no hotel in the Bulgarian capital.

Property investment companies are expected to swing further towards the tourism sector, particularly in the city hotel domain, as was the case this week with the acquisition by listed firm Grivalia Properties of such a property in Thessaloniki.

One year after its closure, the Athens Ledra Hotel is passing into the hands of Sygrou 115 Hotel SA, a company controlled by US property investment firm Hines, for just over 33 million euros.

Following the departure of operating company Marriott Hotels, which had managed the unit for decades, the hotel on Syngrou Avenue shut down last year due to owner Asty SA's financial problems.