ECONOMY

Domotel set for first foray in Athens

A new five-star hotel managed by the Domotel hotel group is slated to start operating in the next few months in the northern suburbs of Athens.

After the refurbishment of the premises by its owner, the hotel will likely start operating in May, with a capacity of 86 rooms and large conference halls. The new unit represents Domotel’s first foray into the Greek capital’s hotel market, as it undertakes the management of the unit for the next 15 years.

Kathimerini understands that the property owner and the management company agreed on the details of the deal in mid-September and will sign the contract within the next few days.

Domotel’s chief executive, Constantinos Alexopoulos, said that the company is interested in the further development of luxury boutique hotels. By the end of the year it is expected to sign another contract, adding one more unit to the Domotel chain for 2015.

The hotel group, which already owns or manages six units in central and northern Greece, is also planning to expand abroad, using the Turkish market as its launch pad for penetrating Central Asia. It is currently weighing possible deals in Istanbul, Izmir and Ankara.