Lampsa selling Sheraton Rhodes Resort

Lampsa Hellenic Hotels SA, owner of Athens luxury hotels the Grande Bretagne and King George, have announced the sale of another unit, Sheraton Rhodes Resort, to Spanish investment fund Azora, for €43.8 million. 

The price includes a €20 million debt that was repaid as part of the transaction. 

Lampsa’s management hailed the sale as a “strategic move that will allow Lampsa to concentrate on city center hotels and improve its operational and capital position” and called Azora’s investment “a vote of confidence in Greek island tourism.”