Five-star Grand Hyatt Athens Hotel Changes Hands

Hotel Investment Partners (HIP), a prominent owner of resort hotels in Southern Europe backed by funds managed by Blackstone and GIC, has added the five-star Grand Hyatt Athens to its portfolio.

The acquisition, valued at 230 million euros according to industry insiders, sees funds managed by Blackstone purchasing the hotel from Henderson Park and Hines.

Located near central Athens, the Grand Hyatt Athens was extensively renovated in 2023 and stands as one of the largest hotels in the city. It boasts 548 rooms, 56 suites, a spa and fitness center, and four swimming pools—two of which are situated on the terrace, offering impressive views of the Acropolis. Guests can also enjoy an extensive culinary experience, with two restaurants and two bars, including terrace options.

The hotel is a standout venue for MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism, featuring 4,435 sqm of modern meeting space. It offers 30 meeting rooms and a ballroom accommodating up to 2,550 people, making it one of Europe’s premier congress destinations.

The property blends leisure and business offerings under the prestigious Grand Hyatt brand, which delivers high standards across HIP’s portfolio, including other brands like Dreams, Secrets, Zoetry, and AluaSoul Hotels & Resorts.

Sustainability and market growth

The Grand Hyatt Athens is the only hotel in the Greek capital to hold the BREEAM “Very Good” certification, an internationally recognized standard for sustainable building performance. This achievement follows its recent renovation and expansion.

Greece remains a strategic growth market for HIP, with the acquisition of the Grand Hyatt Athens increasing the company’s Greek portfolio to 10 hotels, following the recent acquisitions of a hotel in Halkidiki and another on Rhodes. HIP’s portfolio includes properties located in prominent destinations, including the Halkidiki peninsula, two on the island of Corfu, two on Crete and another two on Zakynthos, for a total of 2,641 rooms (including the Grand Hyatt Athens).

Continued investments in Greece

At the recent Resort & Residential (R&R) Hospitality Forum in Athens, Luis Picas, HIP Investments Senior Director, reaffirmed Greece’s priority status for the company. He noted that Greece offers more investment opportunities compared to Spain due to its relatively lower sales prices and less intense competition.

“HIP’s intention is to continue investing in Greece, which has enormous prospects,” Picas highlighted.

Established tourism destinations where HIP already has a presence remain a focus for future acquisitions. Picas also underlined the Cyclades islands as a target for further expansion.

“We are long-term investors, not operators. We purchase hotels and then collaborate with local or international operators,” Picas added.