Lampsa offers 43 mln euros for King George hotel

Lampsa Hotels has bid 43 million euros to buy the King George Hotel in central Athens from Eurobank, according to a bourse filing published Tuesday.

Eurobank put the hotel up for sale in May and Lampsa, which has leased the King George for 20 years, has the right of first refusal on the sale, which means that once the tender process was completed, it could match the best offer made and purchase the hotel.

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Eurobank's board of directors are expected to decide on the offer in coming days though the deal is widely expected to go through.

The sale will cement Lampsa's position as a key player in the Athens hotels business. Lampsa, owned by the Laskaridis family, also owns the Grande Bretagne hotel, located next door to the King George at Syntagma square.

Both hotels are reporting solid growth on the back of Greece's growing tourism sector. The latest figures published by Lampsa show that revenues at both hotels were up by more than 20% in the first half of 2016.