Tourist operator and real estate company TEMES SA and Turkish conglomerate Dogus Holding completed the purchase of the Athens Hilton hotel, the two companies said in a statement Friday.
The two companies purchased a 97.3% stake in Ionian Hotel Enterprises, that owns the Athens Hilton, for about 143 million euros. Ionian Hotels Enterprises was owned by Alpha Bank but was sold off as part of efforts by Greek lenders to reduce non core operations, as dictated by banking regulators.
“Hilton Athens is a unique high-rise landmark building in the center of the city with an exceptional legacy in international hospitality. In the coming months, Home Holdings S.A. will finalize a property improvement plan to upgrade existing facilities and introduce new products and services,” the two companies said in a joint statement.