“Greece is one of the last European frontiers for real estate. Less than 1% of hotels have international brands. The percentage is very low”, emphasized Mr. Elie Milky, Vice President Development, Radisson Hotel Group, speaking in the context of the 23rd Prodexpo, in a discussion on “how good it is to have international hotel brands in Greece”.
Mr. Milky added that southern Europe hoteliers do not easily want to cooperate with international brands, even though they create added value, but younger hoteliers see the benefits that an international brand can offer. He also clarified that a brand name dows not necessarily connote luxury, but could be for all sorts of customer budgets.
From left: Sonia Melegou, Partner, Real Estate, Tourism, Zepos & Yannopoulos, Elie Milky, Vice President Development, Radisson Hotel Group, Nikos Chantzos, Founder & MD, Hotellect Consultant, Marriott International, Leon Avigad, Founder & Co-Owner, Brown Hotels
Nikos Chantzos: We returned to Greece because there are opportunities
Following Mr. Nikos Chantzos, Founder & MD, Hotellect Consultant, Marriott International noted that his firm was one of the first big hotel brands to come to Greece, and grew by much up to the covid outbreak, and returned to Greece because of available opportunities. He also referred to the tour operators, noting that theirs is not as safe a practice as once thought, as was proven with the collapse of Thomas Cook. Now, after quite successful partnerships such as Moxi in Patras and Athens, there is a shift towards international brands.
Leon Avigad: In Greece you have everything
Last placed Mr. Leon Avigad, Founder & Co-Owner, Brown Hotels noted that his firm started out of love for Greece and then it became a business choice, banking on the many similarities between Israelis and Greeks. His firm’s strategy is to own the hotels they operate.
Brown Hotels does not seek out prime areas, being more interested in the wider area of Omonia as it has opportunities, lower prices compared to Syntagma for example, and it is an area that is 10 minutes from the center. Mr. Avigad also lauded Greece’s good weather, stable government, and controlled bureaucracy.
He concluded his presentation by referring to the time span of a hotel’s commitment to a brand, saying that 20 years is a long time. This coercion and long time limit does not help hoteliers approach big brands.
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