Hyatt Hotels Corporation announced that a Hyatt affiliate has entered into a franchise agreement with both Henderson Park and Hines for the first Grand Hyatt hotel in Greece, Grand Hyatt Athens. The hotel is the former Athens Ledra (Marriott) which is undergoing a major renovation and is expected to open in Q3, 2018.
Following the departure of operating company Marriott Hotels in 2016, which had managed the unit for decades, the hotel on Syngrou Avenue shut down due to the owner Asty SA’s financial problems. A year after its closure, the Ledra Hotel passed into the hands of Sygrou 115 Hotel SA, a company controlled by US property investment firm Hines. The hotel was auction for just over 33€ million while on the day the property was repossessed, its value was estimated at 52€ million.
The 310-room hotel is centrally located on Syngrou Avenue in Athens’ Koukaki district, close to golf courses, restaurants and within walking distance of Filopappos Hill. Grand Hyatt Athens will reflect Greek culture with dramatic architecture and design. Planned are a new rooftop bar and restaurant, and an outdoor swimming pool, both with stunning views of the Acropolis. Additional amenities will include a spa and fitness centre.
Grand Hyatt Athens joins its sister property Hyatt Regency Thessaloniki as the second Hyatt property in Greece.