Lampsa Hellenic Hotels Reports Record Year and Prepares New Hospitality Projects

Hotel Grande Bretagne.

Greek hospitality group Lampsa Hellenic Hotels is set to close 2024 as a record year, with a 7 percent increase in turnover and a 12 percent rise in operating profits, according to company estimates.

The group’s management forecasts further growth in 2025, anticipating a 4 percent turnover increase and a 5 percent rise in EBITDA profits.

The milestone year coincides with the 150th anniversary of the flagship Hotel Grande Bretagne at Syntagma Square in Athens, which remains a symbol of luxury and heritage in the global hospitality industry.

Owned by the Laskaridis Group and actively involved in the Greek tourism sector, Lampsa’s portfolio also includes the King George hotel and Athens Capital Hotel–MGallery, which are located at Syntagma Square. The group also owns the Hyatt Regency and the Mercure Excelsior in Belgrade.

Strong financial performance

Athens Capital Hotel–MGallery.

In 2024, Lampsa’s turnover rose to some 122 million euros, compared to 114 million euros in 2023. EBITDA is projected to reach 36.5 million euros, marking a 12 percent increase.

The group’s hotel occupancy rates showed modest growth, despite challenges such as extreme summer heat and geopolitical instability in the Middle East. Revenue per available room increased significantly, driven by higher room rates.

At the Hotel Grande Bretagne, the average room rate increased from 502 euros to 538 euros. Similarly, at the King George, rates rose from 470 euros to 490 euros, while at the MGallery, they climbed from 270 euros to 311 euros. The Hyatt Hotel in Belgrade also achieved record performance, with its average room rate increasing from 139 euros to 166 euros, despite stable occupancy levels.

Looking ahead to 2025, the group expects continued growth, driven by strategic investments and operational enhancements.

New hospitality projects underway

Photo Source: Elatos Resort & Health Club / Costas Arvilias

Elatos Resort on Parnassos

Lampsa is making significant progress on its luxury Elatos Resort investment in Parnassos, with a budget exceeding 30 million euros. The project will feature 42 luxury chalets with 2–4 rooms each, 15 luxury rooms in a main building and a state-of-the-art spa, with branding and management by an international operator (to be announced soon).

“Our goal is to create a year-round resort that rivals those in Switzerland and Austria,” said Chloe Laskaridi, Executive President of LAMPSA.

The new resort οn Mount Parnassos will focus on sports tourism and wellness experiences, setting new benchmarks for Greek hospitality.

According to Laskaridi, construction is progressing steadily despite challenges posed by the mountainous terrain. Licensing is complete, and construction is expected to conclude by the end of 2026.

Athens Capital Suites

In January 2025, Lampsa will debut Athens Capital Suites, a boutique hotel on Zalokosta Street. The 4- million-euro investment includes 17 luxury suites managed by Accor, which also oversees the group’s Athens Capital Center Hotel – MGallery Collection.

The Zalokosta building, leased for 30+10 years from social security entity e-EFKA, has been carefully restored to reflect its historic significance.

The Voria Project

An impression of the multi-purpose VORIA complex in Marousi from above. Photo source: NorthStar Entertainment

Lampsa is awaiting a decision from the Council of State regarding the transfer of Mont Parnes Casino to Marousi, which is expected by Christmas. If approved, the 250-million-euro Voria project will include a 150-key hotel, an amphitheater, entertainment and dining spaces, a modern casino.

Hyatt Regency Thessaloniki

Moreover, regarding the Hyatt Regency Thessaloniki, managed by LAMPSA, the group is exploring its repositioning as a city resort to attract a broader clientele. Upgrades are being implemented to enhance the property’s appeal and redefine its image, moving beyond its traditional association with casino operations.

“Thessaloniki has strong growth prospects as a tourist destination,” noted Laskaridi.

Future investments

Lampsa is also exploring the renovation of its iconic Hotel Grande Bretagne, marking the first major update in two decades. This renovation would ensure the property continues to set standards of excellence in the global luxury hotel market.