The total consideration of the deal was reportedly reached c.€230 million. The hotel will continue to operate under the Hyatt franchise and be managed by a Yiannis and Tina Daskalantonakis' interests firm, Kokori.
The Grand Hyatt Athens is the second largest hotel in Attica, both in terms of conference facilities and room capacity, after the InterContinental Athenaeum Athens. The latter is closely located on Syngrou Avenue.
The hotel -formerly known as Athens Ledra- was purchased by Hines and Hensderson Park JV in June 2017 that bid the hotel in auction, for €33,050,000.
Shortly after the hotel undergone a from scracth renovation and expanded in the adjacent property. The total works proceeds exceeded €150 million adding 227 new rooms and suites at the hotel resulting in the upgrade of the hotel's total capacity to 548 rooms. In particular, the suites offer plunge pool, a unique amenity offered in an Athenian concept style hotel.
HIP was founded in 2015 and was taken over by Blackstone managed funds in 2017. Very recently the Singaporean investment fund GIC was emerged the majority shareholder of the firm stepping in with a 35% stake. GIC was also widely known in our country following their €2.3 billion placement in Sani/Ikos Group that corresponds to a majority stake as well.
HIP works with major global hotel providers including Ritz-Carlton, Barceló, Melia, Hyatt, Hilton, Ledra and Marriott.
Today, the company holds a portfolio of 72 hotels, with a total of over 21,000 keys across Spain, Greece, Italy and Portugal. The properties also have "green" standards with 54 of them been BREEAM "Very good" certified .
