Emblematic Athens Hilton hotel changes hands, transaction for sale completed

The emblematic Athens Hilton hotel in the center of the Greek capital, one of the historic hotels which have put their mark on the city's tourism industry for more than half a century, changed hands on Friday, its new owners announced.

"Home Holdings, with TEMES S.A. and D-Marine Investments Holding B.V. as shareholders, concluded today the transaction for the acquisition of the majority stake (approximately 97.3 percent), previously owned by Alpha Bank, in the share capital of the listed in the Athens Stock Exchange Ionian Hotel Enterprises S.A., owning company of Hilton Athens," an emailed statement said.

TEMES, a Greek developer and operator in the high-end tourism and real estate sector, and the Amsterdam-based D-Marine Investments Holding, a subsidiary of the Turkish Dogus Holding, won an international tender launched in February 2016.

Following the finalization of the 142 million euros (148.4 million U.S. dollars) agreement the new owners intend to carry out investments that generate added value for the domestic tourism market, they said.

The Athens Hilton began operations in 1963 and has been a destination for an elite clientele, including numerous heads of states, famous artists and celebrities.

In the coming months, Home Holdings S.A. will finalize a property improvement plan to upgrade existing facilities and introduce new products and services.

Given that the current operating management agreement expires in March 2018, Home Holdings S.A. has already commenced discussions with Hilton Worldwide as well as with other potential international operators to explore possibilities for future collaboration, according to the statement. Endit