Hyatt Hotels signed a franchise agreement with Henderson Park and Hines to open the Greece's first Grand Hyatt hotel.
Kokari Limited, a subsidiary of Y&T Daskalantonakis Knossian Group, will manage the Grand Hyatt Athens, which is expected to open in the third quarter of 2018. The 310-room hotel will be developed in Athens’ Koukaki district near golf courses, restaurants and Filopappos Hill.
The hotel is currently undergoing a major renovation before it opens later this year. It will be Hyatt's second hotel in Greece, following the Hyatt Regency Thessaloniki.
"This deal represents a significant milestone in Southeast Europe, an important growth market for Hyatt with recent Hyatt development announcements in Turkey and Bulgaria,” Takuya Aoyama, VP of development for Eastern Europe, Russia & CIS at Hyatt, said in a statement.
“Our investment into Grand Hyatt Athens was driven by its potential as a luxury asset with a historic heritage,” Nick Weber, founding partner of Henderson Park, said in a statement. “Grand Hyatt is one of the world’s leading premium brands and working with Hyatt on this hotel is an endorsement of our ambitious strategy and a strong addition to Henderson Park’s portfolio of iconic European hotels. We hope this marks the first stage of building a rewarding, long-term relationship with Hyatt.”
Hyatt has another 41 hotels across Europe, two of which operate as Grand Hyatt properties: the Grand Hyatt Berlin in Germany and the Grand Hyatt Istanbul in Turkey.
The signing of the Grand Hyatt Athens follows the opening the Nish Palas Istanbul Hotel–the first Unbound Collection by Hyatt property in Turkey–on May 21, 2018. The 45-room hotel in Nişantaşı is near the neighborhood's boutiques, restaurants and art galleries.