Major interest seen in Grand Hyatt Athens
Major international private investment funds are participating in the final stages of the private sale process of the Grand Hyatt Athens hotel.
The seller is the scheme of Henderson Park and Hines, which acquired the original building at auction six years ago, and after investments, estimated at around 140 million euros, expanded the complex by buying the adjacent building and renovating all the facilities.
In this scheme, the majority, 75%, is held by Henderson Park, which according to information is in the process of disinvesting from some of its properties internationally.
Moreover, the completion of five years from the initial investment means that the investment time horizon typically provided for this type of capital placement has been fully exhausted. In the context of this process, US private investment fund Blackstone has shown interest, which through its subsidiary HIP already has stakes in at least five hotels in Greece.
Also involved in the process is Starwood Capital Group, which in 2016 sold the Starwood Hotels and Resorts Worldwide chain to Marriott International, and Bain Capital, an investment fund particularly active recently in the Greek real estate market. Trinity Investments completes the list.
