Lampsa: High Expectations for New Luxury Hotel in Athens

Lampsa Hellenic Hotels, the hospitality group that owns the Grande Bretagne and King George hotels, has high expectations for its new five-star Athens Capital Hotel – MGallery, which is getting ready to open its doors near Syntagma Square in central Athens.

The new hotel, which will operate under the luxury MGallery brand of French multinational hospitality company, Accor, will be located in the building where the historic Kings Palace Hotel once stood, at the intersection of Panepistimiou Avenue and Kriezotou Street.

An investment of 22 million euros, the new hotel is expected to open in the fully revamped building in early April 2020. The hotel’s general manager will be Evripidis Tzikas, an Accor executive with a long experience in the Greek hospitality industry.

According to management sources, Lampsa expects high occupancy numbers for the Athens Capital Hotel – MGallery. The company’s new addition to its portfolio will be the most luxurious MGallery hotel in the world, consisting of 159 rooms and 19 suites. The ground floor will house two clothing stores, a Ralph Lauren store and another leading global fashion brand, and an All Day Lobby Lounge Bar. The hotel’s main restaurant will be located on the 9th floor and a recreation area with a pool and bar will be on the 10th floor, overlooking Athens.

Lampsa Hellenic Hotels is owned by the Laskaridis Group and actively involved in the Greek tourism sector. In addition to the Grande Bretagne and King George hotels in Athens, the group also owns the Sheraton Hotel on Rhodes, the Hyatt Regency and the Mercure Excelsior in Belgrade.

According to management sources, this year’s turnover for Lampsa is expected to reach the same level as last year, at around 80 million euros.

For the coming year, estimates show a 4 to 5 percent increase in turnover for Lampsa’s existing hotels in Athens, Rhodes and Belgrade, with additional revenue expected to come from the new Athens Capital Hotel – MGallery.

Moreover, the group’s two hotels in Serbia, Hyatt Regency Belgrade and Mercure Excelsior, performed well this year. On the contrary, Lampsa’s hotel on Rhodes will see a drop in turnover in 2019 and an average room price of 120 euros.