The project of the new district to be created in Athens, Ellinikon, is becoming clearer with the announcement of the creation of two luxury hotels by TEMES and Lamda Development.
In an interview with Hospitality ON in December 2022, the Ellinikon project team at Lamda Development discussed the plans and ambitions for this ambitious Greek project. This coastal area was to be home to housing, leisure and facilities and this is confirmed with this new announcement.
TEMAS will participate with 70% and Lamda with 30% in the management of the new buildings in collaboration with BELT and MALT. In addition, the flats in the two hotels are expected to generate nearly 400 million euros in sales, which corresponds to the destination's total investment in the development of seaside tourism.
The first 160-room hotel will include 14,756 square metres of leisure and relaxation areas. Construction is scheduled for completion in December 2026, with a grand opening in 2027.
The second property, located in Agios Kosmas Marina, is also scheduled to open in 2027. The 200 rooms will be designed on a 23,142 m² plot of land, with an estimated investment of 235 million euros.
Both properties will offer indoor and outdoor restaurants and entertainment areas, with one of them featuring an 800 square metre beach club. The business plan also calls for the construction of an entertainment area "to the standards of the world famous clubs in Mykonos, Ibiza and other luxury beach destinations".
One of the hotels will also feature a rooftop bar with panoramic views, leisure, fitness and wellness areas. The indoor and outdoor pools will serve as a wellness centre as well as an exclusive club for members and residents of the area. Guests, homeowners and club members will also have access to the beach club, sports facilities and gourmet restaurants.
The formalities for handing over the management of these properties to a major hotel operator are about to be finalised, and negotiations are at an advanced stage for the leasing of restaurant and beach club areas to international gastronomic brands.
