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ATHENS – The Hilton Athens hotel will reportedly be offered for sale at an asking price of 180 million euros ($230 million) by its owner, Alpha Bank.

The 506-room, five-star hotel in the city center may be sold this year, Bloomberg news agency said it was told by a source it wouldn’t identify. A spokeswoman for Alpha Bank declined to comment.

Investors including Oaktree Capital Group and the Jermyn Street Real Estate fund have been investing in hotel assets across Greece as rising tourism helps the country dig its way out of a six-year recession.

Tourist arrivals in Greece reached a record 17.5 million in 2013 and are set to reach 19.5 million this year, according to the Association of Greek Tourism Enterprises.

Tourism represents around 16 percent of the nation’s Gross Domestic Product of 189. 25 billion euros ($241.7 billion) and it’s set to generate 13.5 billion euros ($17.24 billion) of revenue in 2014, the group estimates.

 

The post Athens Hilton On The Block appeared first on The National Herald.

Source: The National Herald
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