BUSINESS

OLP in talks for developing four hotels

ILIAS BELLOS

TAGS: Business

Piraeus Port Authority (OLP) is in the process of reaching out to Greek and foreign hotel groups for the development of four hotel units that form part of parent company Cosco’s investment plans in Piraeus.

Well-informed sources point to meetings with officials from Accor, Hilton Worldwide and Marriott International, as well as a French fund interested in this investment. There have further been talks with major Greek groups including Lampsa and Grecotel, while a date has also been set with a large US investment fund that has made a decisive entry on the hotel map in Athens. Other meetings concerned Bluehouse Capital and other groups involved in malls as well.

The process, according to sources from Cosco, is expected to be completed in the coming months, with the signing of memorandums of understanding for the first hotels taking place by the end of the year.

The plans for the construction and operation of four hotels in the port area (one four-star and three five-star hotels) and also for a mall, are based on a study carried out for OLP by McKinsey and aimed at turning Piraeus into a metropolitan center for cruise tourism, as the new hotels will boost the port’s profile and attract up to 580,000 additional homeport passengers per year in the long term, Cosco sources tell Kathimerini.

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