TEMES – Dogus Move Full Speed Ahead to Clinch Hilton Athens

Greek luxury resorts developer TEMES SA and Turkey’s Dogus Holdings seem likely to step in as the new owners of the Hilton Athens, after Alpha Bank said on Monday that it had selected the consortium as the preferred investor for the landmark establishment.

The selling price, to be set during negotiations between the two parties, will depend on such details as whether the owners can proceed with expansion plans. According to reports, offers submitted for a 97.3 percent stake in the hotel ranged between 140-180 million euros and attracted a large number of contenders in the past two years including John Daskalantonakis and US investment fund Lone Star, Spain’s Barcelo Group, South African Orion Hotels & Real Estate, US groups Hines, Nexus and Pacifica.

The hotel is currently owned and managed by Ionian Hotel Enterprises SA, a subsidiary belonging to Alpha Bank, and the contract expires at the end of this year.

London-based TEMES SA, a subsidiary of the Constantakopoulos Group, is also behind highly lauded sustainable tourism resort Costa Navarino in Messinia, while Dogus is participating in the international consortium that recently won the right to manage the famed Astir Palace Resort along the Athenian Riviera.

The Hilton Athens is not only a landmark in Greece being the first international hotel chain to open its doors in the Greek capital some 53 years ago, it has since hosted some of the world’s most prominent personalities. Conrad Hilton inaugurated the hotel himself in 1963, which today has 506 rooms, 22 conference halls, as well as award-winning restaurants and bars among others.