New ‘ON Residence’ Hotel Ready to Open in Thessaloniki

Thessaloniki’s hospitality market is getting ready to welcome the ON Residence, a new boutique hotel on Nikis Avenue set to open on April 29.

A partnership of Grivalia Hospitality and TOR Hotel Group and an investment of 20 million euros, the new hotel is located on the central waterfront avenue in Thessaloniki.

The seven-storey ON Residence has a capacity of 60 rooms, of which 9 are suites, and will house the legendary Olympus Naoussa restaurant on the ground floor.

Considered an iconic restaurant in Thessaloniki, the Olympus Naoussa will reopen after three decades under a brand new concept for Greek and international gastronomy with Greek chef Dimitris Tasioulas planning to redefine local flavours and traditional recipes in the most exciting ways.

In addition to the Olympus Naoussa restaurant, ON Residence includes a cocktail bar, an indoor courtyard, a modern gym, and a specially designed space for business meetings and events.

The property that houses the ON Residence hotel passed into the ownership of Grivalia Hospitality and TOR Hotel Group for 5.46 million euros in 2017, following their joint participation in a tender for its sale.

Grivalia Hospitality is a real estate platform, focused on investments in high-end, ultra-luxury lifestyle hospitality assets in Greece and abroad. In addition to ON Residence, Grivalia Hospitality’s portfolio includes six premium hospitality projects worth 450 million euros that are currently in development and expected to be completed in about two years.

TOR Hotel Group is a company that counts 97 years in the hospitality sector and has a portfolio that includes Thessaloniki’s City Hotel and The Excelsior and Halkidiki’s Eagles Resort, Eagles Palace and Eagles Villas.