ECONOMY

Hilton Athens building comes under control of Costa Navarino owner

hilton-athens-building-comes-under-control-of-costa-navarino-owner

Hilton Athens, one of the capital’s landmark hotels, has passed into the hands of TEMES, which also controls Costa Navarino in the southwestern Peloponnese, the company owned by Achilleas Konstantakopoulos announced on Friday.

Turkish group Dogus – which had formed a 50-50 consortium with TEMES for the acquisition of Ionian Hotels from Alpha Bank in 2016 – has sold its stake, with TEMES raising its stake to 51 percent and its strategic partner, the Olayan Group, obtaining the remaining 49 percent.

In early November Ionian Hotels, which owns the Hilton Athens building, extended its management agreement with Hilton Worldwide.