“Greece is one of the last European frontiers for real estate. Less than 1% of hotels have international brands. The percentage is very low”, emphasized Mr. Elie Milky, Vice President Development, Radisson Hotel Group, speaking in the context of the 23rd Prodexpo, in a discussion on “how good it is to have international hotel brands in Greece”.
Mr. Milky added that southern Europe hoteliers do not easily want to cooperate with international brands, even though they create added value, but younger hoteliers see the benefits that an international brand can offer. He also clarified that a brand name dows not necessarily connote luxury, but could be for all sorts of customer budgets.
Nikos Chantzos: We returned to Greece because there are opportunities
Following Mr. Nikos Chantzos, Founder & MD, Hotellect Consultant, Marriott International noted that his firm was one of the first big hotel brands to come to Greece, and grew by much up to the covid outbreak, and returned to Greece because of available opportunities. He also referred to the tour operators, noting that theirs is not as safe a practice as once thought, as was proven with the collapse of Thomas Cook. Now, after quite successful partnerships such as Moxi in Patras and Athens, there is a shift towards international brands.
Leon Avigad: In Greece you have everything
Last placed Mr. Leon Avigad, Founder & Co-Owner, Brown Hotels noted that his firm started out of love for Greece and then it became a business choice, banking on the many similarities between Israelis and Greeks. His firm’s strategy is to own the hotels they operate.
Brown Hotels does not seek out prime areas, being more interested in the wider area of Omonia as it has opportunities, lower prices compared to Syntagma for example, and it is an area that is 10 minutes from the center. Mr. Avigad also lauded Greece’s good weather, stable government, and controlled bureaucracy.
He concluded his presentation by referring to the time span of a hotel’s commitment to a brand, saying that 20 years is a long time. This coercion and long time limit does not help hoteliers approach big brands.
Latest News
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations
RRF: Additional €5.1bln Funds for Subsidies to Greece in 2025
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Challenges and Delays in Greece’s Hydrocarbon Exploration
Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.
Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
Greek authorities hope the newly-launched, free ‘MyCoast’ app will help clamp down on public beach violations
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%