ECONOMY

Coco-Mat plans to open boutique hotel in Kolonaki

After the withdrawal of hundreds of hotel beds in the last four years due to the economic crisis, there will finally be some new beds added in Athens.

They will be created by Coco-Mat, a local manufacturer of mattresses, pillows, towels and furniture for homes and hotels that has also entered the hotel sector. According to a company representative, Coco-Mat Hotels & Resorts Worldwide intends to create a boutique hotel above its store in Kolonaki, central Athens.

Its total investment for the creation of the hotel’s 36 rooms is estimated at 6 million euros. The new unit is expected to open at the end of this year.

Coco-Mat has also acquired part of the Akraion Hotel in Penteli, northern Athens, for 1.8 million euros. The hotel has 50 rooms and the company intends to move ahead with its modernization, taking Coco-Mat’s total investment in the unit to 3 million euros.

Furthermore, the company is currently expanding its Nafsika Hotel in the northern Athens suburb of Kifissia, adding another 14 rooms to the existing 22, with a total investment of 4.5 million euros.