Push to revive former Athens landmark hotel-King's Palace

The tender of a former Athens landmark hotel in central Syntagma square is expected to be launched by the end of the month, in what will be a sign of investor appetite for hospitality assets in the Greek capital.

Greek website dealnews.gr reports that the former King's Palace hotel, a nine story building which has been turned into office space in recent years on the corner of Panepistimou and Kriezetou streets, will be offered for a long term lease for a hotel.

The building is owned by a fund belonging to former Agricultural Bank employees.

In March, another large Athens hotel will be up for grabs. The Athens Ledra hotel will go under the hammer for the fourth time in a process that is likely to be completed due to the falling price demanded by banks that control the property.