Greek, Turkish JV acquires Athens Hilton

Greece's Alpha Bank has reportedly agreed to sell the Hilton Athens Hotel to a consortium comprising developers Greece’s TEMES and Turkey’s Dogus Holdings A.S.

Dogus Holdings is one of the top three largest private-sector conglomerates in Turkey. TEMES' business focused primarily on luxury mixed-use resorts. It is the owner of the Costa Navarino resort in the Peloponnese, one of the biggest in the Mediterranean.

According to the Greek Reporter, the hotel was sold for €142 million for 97.3 percent of the shares. The only outstanding issue being the regulating authorities’ approval.

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In February, Alpha Bank launched a process to sell Athens-listed Ionian Hotel Enterprises, owner of the hotel.

Located in the capital's commercial district, Hilton Athens has 506 rooms, some of which offer views of the Acropolis, and three swimming pools. The hotel is completing 53 years of operation this year, with its sale being part of Alpha’s restructuring plan. 

Hilton will reportedly remain the operator of the hotel.

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The U.S. is now the only region that has yet to turn a positive month of profit since the COVID-19 pandemic took hold.

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