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Grecotel has decided to close 4 hotels in Athens

News Tough times and economic crisis are still the reality for Greece, meaning financial difficulties for hoteliers as well. The local N. Daskalantonakis Group is no exception. The company, which owns the Grecotel hotel brand, has announced it will shut 4 hotels in Athens, the capital of Greece. All properties are referred to upscale segment and were built to suit the needs of 2004 Olympic Games in Athens.

The properties scheduled for closure are: the 115-key Fashion House hotel, the 167-key Acropol Hotel, the 185-key Best Western Esperia Palace and the 71-key Kaningos 21 Hotel.

The first two properties in this list are located in famous Omonia district of Athens. Once it was popular, but after the Olympics this region quickly turned to a quite unsafe one due to highly increased levels of crime. The last two hotels it this list are told to be closed because of overall downturn and the lack of tourists.

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