The Blackstone investment management company and Hotel Investment Partners, an investor in leisure hotels in southern Europe, have acquired the company that owns the Grand Hyatt Athens hotel from Hines and Henderson Park for a reported EUR 230 million.
The hotel will continue to operate under the Hyatt franchise.
The Grand Hyatt Athens — the second largest hotel in Attica, both in terms of conference facilities and room capacity, after the InterContinental Athenaeum Athens — will continue to operate under the Hyatt franchise. Formerly known as Athens Ledra, the hotel was purchased by Hines and Henderson Park JV in June 2017 in auction and subsequently underwent significant renovation and expansion, including the addition of 227 new rooms and suites.
Hotel Investment Partners, which was founded in 2015 and was taken over by Blackstone-managed funds in 2017, holds a portfolio of 72 hotels in Spain, Greece, Italy, and Portugal.
Image source: Tripadvisor.com.au