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Greece Among Top Destinations in the World for Hotel Investors

Greece is among the top destinations for investment funds and companies active in the hotel industry and in general in the field of hospitality and tourism. In fact, leading representatives of international brands revealed their intention to increase their presence in the Greek market while speaking at the 22nd Prodexpo conference held in Athens.

On the occasion of the Melia group’s recent agreement with the hotels of the Papakaliatis family, the Zeus Hotels group, Maria Zarraluqui, Global development VP, Meliá Hotels International, stated that in Greece not only are opportunities identified, but the right partners, with knowledge and experience in providing high-quality services, are on offer.

According to Zarraluqui, the Meliá Group expects a further recovery of the hotel and tourism industry in Greece, adding that there are plans for expansion in Mykonos, Thessaloniki and Santorini. Greece is among the top markets seen by foreign investors, along with Spain and Portugal. The challenge for the Greek market is the gradual detachment from tour operators and their replacement by new sales methods, with digitization as the main tool.

On his part, Ian Di Tullio, and Chief Commercial Officer Southern Europe Accor, predicted further development of the Greek tourism market, with the hotel industry transforming and passing from the level of overnight to the level of service and upgraded experience. Given these trends and the national strategic framework for growth, Greece 2.0, Di Tulio said that Accor is going to strengthen its footprint in Greece by 50% in the coming years.

The importance of upgraded and quality consulting services to enhance the inflow of foreign investment in the Greek hotel market was referred to by Nikos Hantzos, Consultant, International Hotel Development – Greece & Cyprus Marriott Intl. Taking as an example the recent Marriott agreement in Greece, he presented how crucial it is to converge and transform into a strategic investment the presence of five institutional investors, an international hotel manager, Domus, and an international brand like Marriott. Therefore, for Hantzo, experienced and capable executives of the hotel sector who can play the role of advisor to investors, are a “key” for new and more investments in this sector in Greece.

Thomas Doxiadis Founder doxiadis + Architects shared on the panel his experiences from the importance of designing big brands in Greece. Indicatively, he referred to the Four Seasons, which operates by international standards. However, as he explained, in addition to the standard guidelines, current design trends place great emphasis on the issue of “in-depth” quality of the overall experience offered by a hotel.

*Maria Zarraluqui, Global development VP, Meliá Hotels International: “We plan further expansion in Greece.”

*Ian Di Tullio, Chief Commercial Officer Southern Europe Accor: “We will increase our presence in the Greek market by 50% in the coming years.”

*Nikos Hantzos, PhD, Consultant, International Hotel Development – Greece & Cyprus Marriott Intl: “It is important to find the right consultants and partners for new investments in the hotel sector.”

*Thomas Doxiadis, Founder doxiadis + Architects: “Architecture now enters the design of brands based on quality.”

This article was first published here. 

For more Real Estate News & Views on Greece and Europe’s South, head to The Greek Guru.


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