Greece Hotel Development Is Booming With 60 New Properties Announced

02.03.2024 - 11:59 / forbes.com

The hospitality industry in Greece is preparing for a significant increase in the number of hotels, with the arrival of numerous international hotel brands such as Conrad, Waldorf Astoria, and Six Senses. According to a new report by Travelworks, more than 60 hotel projects have recently been revealed. The report details that 40% of these new projects will operate under international brands, while domestic companies will lead the remaining 60%.

Brands such as Mandarin Oriental and One&Only have already made a significant luxury presence, while brands like Hilton and Wyndham are joining in. Greek hoteliers are also making major moves, with Grecotel, Domes Resorts, and others unveiling new properties.

According to Kostas Panagakis, CEO of Travelworks, "Greece's hospitality sector is experiencing a renaissance, marked by the strategic expansion of international hotel brands and a surge in investment that heralds a promising future. Athens and the Athenian Riviera are emerging as hotspots for hospitality investments, reflecting their growing appeal as tourist destinations and strategic business hubs. Meanwhile, the Greek islands continue to enchant, drawing in many new projects and emphasizing Greece's unmatched allure as a destination."

Among the new launches from Grivalia Hospitality is the 91 Athens Riviera, a luxury camping resort with wellness and fitness facilities, pool area, tennis club, beach club and 30 premium glamping tents managed by Domes Resorts.

Grecotel will launch the Roc Club hotel near Lake Vouliagmeni, planned for Spring 2024, and celebrates its recently opened The Dolli, a stunning new boutique hotel with 46 rooms, suites and apartments overlooking the acropolis.

Brown Hotels plans to open three new properties: the Brown Museum and Domino Brown in 2024, and Villa Brown Sans Rival in 2025.

The former Hilton Athens property will undergo a transformation in 2025, with two Hilton brands, Conrad Hotels & Resorts and Conrad Residences, along with Waldorf Astoria Residences debuting in the city.Meanwhile, the Radisson RED Group plans to open the Mitropoleos Square Athens Radisson by the end of 2025, and the Radisson Theatrou Square will offer up 172 rooms.

By 2027, the Ellinikon development (Europe's largest urban regeneration project) is set to welcome two new hotels to its "smart city." The second Mandarin Oriental in Greece will feature 200 rooms and 49 residences. Meanwhile, the Hard Rock Hotel & Casino Athens will offer 1,000 rooms and a large concert space.

The ferry port of Piraeus will also see new hotel launches and significant development. The Mitsis N'U Piraeus Port, featuring 103 rooms, is in the works, along with the conversion of the former Mistral Hotel into an 83-room hotel.