Lampsa Hellenic Hotels S.A opened its third luxury hotel Athens Capital: MGallery in the heart of Athens. It is the 6th hotel in the Lampsa Portfolio.
Athens, Greece: 8 September 2020
Lampsa Hellenic Hotels S.A. is a Greek hotel investment company that owns the Grande Bretagne and King George Hotels in Athens, the Hyatt Regency and the Mercure Excelsior Hotels in Belgrade, and the Sheraton Rhodes Resort on the island of Rhodes.
Despite the very low occupancy rate of 10% in recent months, Lampsa has completed the investment and launch of its third luxury hotel in the center of Athens: MGallery. Located at the junction of Panepistimiou and Kriezotou, in Syntagma Square, MGallery has 177 rooms and suites.
Mgallery is a leased property based on a 30-year concession. The total lease amounts to € 36 mln in rents for the 30-year concession, while the renovation costs have been announced at € 25 mln.
Navigator Consulting provides hotel investment business planning, due diligence and strategic restructuring services in Greece, Cyprus and other countries. We have advised on major hotel investments in Greece. For further information and support, please contact us.
Philip Ammerman
Managing Director
Sources:
Kathimerini. 8 September 2020
Business Traveller. 7 September 2020
Accor. 1 September 2020