Marriott International (NASDAQ: MAR)'s new agreement with Chandris Hotels will mark the return of the Marriott Hotel brand to the city of Athens, following an absence of more than two years. Once the hotel completes its $15 million transformation, the Athens Marriott Hotel will debut in 2018 with 366 guestrooms.
The signing of this hotel, which Chandris Hotels currently runs as the independent Metropolitan Athens Hotel, underscores Marriott's desire to work with owners to expand its 30 brands in European capitals. Chandris Hotels currently owns and operates five hotels in Greece.
"We are excited to work with Chandris Hotels, which has a strong history in the hospitality industry and shares our vision for innovating. We are also proud they selected us as their first collaboration with an international brand," said Carlton Ervin, Marriott International's Chief Development Officer, Europe. "Their plan to significantly refurbish this hotel highlights our shared confidence in Greece's dynamic travel and tourism industry."
The renovation plans for the cosmopolitan property includes modern conveniences and stylish features. The well-known Marriott name will adorn the building once the guestrooms and public spaces are completed. The hotel will feature two contemporary restaurants, a chic rooftop bar, fitness facilities, a swimming pool and state-of-the-art meeting space that can be customized with Marriott's MeetingsImagined.com service.
The hotel is located on the busy artery Syngrou Avenue, opposite the Stavros Niarchos Foundation Cultural Center, a cultural complex designed by Italian architect Renzo Piano that houses the National Library of Greece and the National Opera.
"The hotel is well placed to benefit from the planned development of the area into an attractive waterfront Riviera, and this serious investment demonstrates our confidence in the future of the city of Athens and our strength as a company," said George Paidoussis, President of Chandris Hotels.
"We considered many brands and selected the one that we felt most closely reflected our strategic direction and standard of excellence," Paidoussis said. "The future of business hotels in the face of fast evolving technology depends on networks of loyal program members and Marriott's is by far the world's leader."
The Athens announcement comes less than a month after Marriott International completed its acquisition of Starwood Hotels & Resorts. The transaction created the world's largest hotel company, with Marriott International operating or franchising more than 5,700 properties and 1.1 million rooms, in over 110 countries. In Greece, Marriott's distribution now totals 13 hotels and resorts, including eight under The Luxury Collection brand, making Greece the country with the highest concentration of Luxury Collection hotels and resorts in Europe. Marriott in the last 12 months also opened two Autograph Collection hotels on the island of Crete – Domes of Elounda and Domes Noruz Chania.
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