Henderson Park and Hines have completed the sale of Grand Hyatt Athens to funds managed by Blackstone Real Estate for €235 million ($247 million).
Strategically located on Syngrou Avenue near Athens’ popular Koukaki district, the hotel has become a premier destination for both leisure and business travelers in Athens, reflecting the long-standing reputation of Grand Hyatt while benefiting from the Greek capital’s position as one of Europe’s most popular tourist destinations, with more than 4.5 million visitors a year.
Henderson Park and Hines acquired the property as the 315-key Ledra Marriott in June 2017, having identified an opportunity to undertake a significant upgrade and repositioning of the asset that capitalizes on its heritage as one of Athens’ top five hotels since its original construction in 1984. The acquisition marked both firms’ entry into the Greek market.
Since its purchase, Henderson Park and Hines have completed an extensive renov
