On behalf of Primonial REIM, Paris-based Hova Hospitality has acquired the 460-room, four-star Club Med Gregolimano in Edipsos from Fosun. The hotel is set to undergo a €20m refurbishment program.
Hova Hospitality, which was launched by Dominique Ozanne and Gael Le Lay in 2021 with core backing from Primonial, now controls a portfolio of around 125 hotels across Europe valued at €1.3 billion, according to consultancy HVS.
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BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%
Piraeus Bank to Propose First Dividend in 16 Years
Piraeus Bank has forecast profits of roughly 900 million euros this year, rising to one billion euros next year
Eurostat: Inflation in Greece Eases to 3.2% in April; 2.4% in Eurozone
The rate of increase for food prices was up by 4.9% in April 2024, compared to 4.8% in the previous month
ELSTAT Feb. Retail Turnover Drops by 3.8%, Sales Volume Plummets by 9.8%
Additionally, the seasonally adjusted General Volume Index for Feb. 2024 experienced a 3.8% decrease compared to the previous month of the same year
Greek Buyers Lead Return to Vacation Home Market
In the last six months, Greeks have made a surge into the vacation home market, notably without relying on loans
NBG Receives BBB Investment Grade by DBRS
This makes NBG the first Greek bank to regain Investment grade status, nearly 15 years after the onset of the Greek financial crisis
Greek Gov. Budget: Primary Surplus 3bln in Q1 2024
Value Added Tax (VAT) revenues reached 5.876 billion euros, down by 16 million euros compared to the target
Athens’ Public Transport System Gets Green “Facelift”
The future of urban transport in Greece's capital city includes electrification, hydrogen, kinetic energy and even heighted security and monitoring through the use of drones
Athens Int’l Airport: 16.2% EBITDA Increase and 16.5% Passenger Growth in Q1 2024
Following the strong performance in the first quarter, the company revised its annual passenger traffic forecast for 2024 to 29.9 million passengers, a 6.3% increase (or roughly 1.8 million passengers) from 2023 levels.
Oxford Economics Report: Greek Economy is Just Below Risk Zone
However, the report points to a persistent challenge in the form of commercial credit risk, which remains high at 8 out of 10, ranking Greece 104th internationally
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