Lampsa Hellenic Hotels SA announced its acquisition of the King George Hotel last week for a price of €43m. The hotel, in the Syntagma Square area of Athens, has been leased to Lampsa since 2013 and operated in conjunction with the nearby Grande Bretagne, which is owned by the Laskaridis Group.
“With the aforementioned acquisition, coupled with the long-term lease and major overhaul of the historic Kings Palace Hotel, owned by the fund of former Agrotiki Bank employees, Lampsa has successfully completed its investment plans in the center of Athens, despite the difficulties of the Greek financial crisis”, read the company statement announcing the deal.
The company also stated that it expects to invest some €80m and generate more than 200 jobs. “The group confirms its long-term confidence in Greek tourism and the continuing progress of the city of Athens,” the statement continued.