BUSINESS

Concession of Xenia hotels starts in May

ILIAS BELLOS

TAGS: Privatizations, Property

The Public Properties Company (ETAD) is getting ready to announce calls for tenders for the lease or other form of concession of its tourism properties. The first in line from next month will be a number of Xenia hotels, with more to follow, along with a large seaside plot.

According to sources, the ETAD business plan submitted for comments and approval to its parent company, the Hellenic Corporation of Assets and Participations (EESYP), includes a blueprint for the utilization of the tourism property portfolio. Emphasis is placed both on the old Xenia hotels and on high-demand plots that under certain conditions can attract major interest thanks to the strong growth of tourism in Greece.

The Xenia hotels most likely to be first to go up for concession before the summer are those at Vytina, Kastania and Edessa, followed by those at Komotini, on Andros and at Karteros on Crete.

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