Works Begin on New Electra Hotels & Resorts Thessaloniki Project

Thessaloniki, Greece.

Works on a new 5-star hotel project by Electra Hotels & Resorts in Thessaloniki kicked off this week as part of company plans to boost its presence in Greece’s second largest city.

According to plans announced by the company, the new 10-storey, 165-room luxury hotel budgeted at 30 million euros is set to make its debut in 2026.

This will be the seventh hotel on the Electra Hotels & Resorts portfolio, which currently includes units in Athens, Thessaloniki, Rhodes and Kefalonia.

“The new investment in the center of Thessaloniki where the landmark Electra Palace operated for six decades confirms our trust in the tourism future of the city and is a vote of confidence in its development prospects”, said CEO and Co-owner at Electra Hotels & Resorts, Yiannis Retsos.

Electra Hotels & Resorts acquired the property through a competition for a period of 49 years with the option to extend for an additional 49 years.

Retsos, who was the former president of the Greek Tourism Confederation (SETE), said the aim was to complete the project by 2027.

Last year, the group’s Electra Palace Rhodes was named “Leading Luxurious Hotel & Resort” in Greece at the Global Brand Awards 2023.

The group was founded in 1965 and has since opened the Electra Hotel Athens, the Electra Palace Thessaloniki,  the Electra Palace Athens, the Electra Palace Rhodes, and the Electra Metropolis Athens. The group’s latest addition is the 5-star Electra Kefalonia Hotel & Spa.