A French “landing” is taking place in the Patision area, with two new hotels already in the pipeline, having secured both their building permits and part of their financing through the Development Law.
The common denominator in both hotels is the French company Boissée Finances, which had already drawn significant attention due to its plans for a new large hotel on Patision Avenue, directly across from the National Archaeological Museum of Athens.
Ultimately, not only is this hotel project moving forward (with the modifications requested by the Ministry of Culture), but—as bizness.gr had previously revealed—the same company is also proceeding with another hotel slightly further from Patision, at the corner of 3rd September and Ipirou streets.
The entity behind both investments is the company ELASTIK HOTEL Single-Member P.C., managed by two French nationals: Eric-Yves S. Rollin and Stephanie-Anne S. Rollin, with the former serving as the General Director of Boissée Finances.
Let’s take a detailed look at the two new hotels.
In the case of the well-known project on the prime property at Patision and Marni (where the well-known Athinaion Theater stood for decades before being demolished), persistence has paid off.
Since 2016, Boissée Finances had already leased the property for 25+25 years through a long-term concession agreement with the owner, the Trianteio Vocational and Industrial School.
The initial plan called for the creation of a hotel with 377 beds, scheduled for completion in 2019.
However, the investment was later expanded (through an agreement for an adjacent property), increasing the size of the proposed hotel and resulting in a proposal for a 10-story building with 600 beds—a proposal that was rejected by the Ministry of Culture.
The justification for the rejection was that the proposed building would disrupt the continuity and architectural character of the area. There were also many reactions related to the overall size of the hotel (10 floors).
Eventually, the company returned with a revised proposal submitted to the Central Council of Modern Monuments (KSNM), which then approved it.
The building permit for the hotel has now been pre-approved. According to the permit, the hotel will include a ground floor and 9 upper floors with rooms and common areas, as well as 4 basement levels (including 127 parking spaces and a fuel station).
Furthermore, the investment plan of the company has been approved by the Ministry of Development for financing through the Development Law, granting the project €2.76 million in tax exemptions.
The new hotel will be a 3-star property, with a capacity of 300 rooms / 603 beds (as stated in the investment plan).
The design has been undertaken by the well-known architect Pavlos Ninios, who is also active in France, through his firm CAPE.
According to sources, it will operate under the management of Accor, via its value-for-money brand Ibis Styles. In Greece, the first Ibis Styles hotels are already in operation: Ibis Styles Athens Routes on Vouliagmenis Avenue and Ibis Styles Heraklion Central in Heraklion.
The investment amounts to €28 million, and construction works are expected to begin immediately.
The new 12-story, 4-star hotel, likely under the name THE NEST, will be built on the plot located at the intersection of Ipirou and 3rd September streets.
Once again, the investor is ELASTIK HOTEL Single-Member P.C.
The hotel will have a capacity of 120 rooms and 260 beds.
The building permit has already been pre-approved, including 3 basement levels with 30 parking spaces and a fuel station.
Moreover, the investment plan of the newly established company has been approved by the competent General Directorate of Private Investments of the Ministry of Development & Investments for inclusion in Development Law 4399/2016.
The cost of the investment reaches €13.2 million, and it will be supported with €1.32 million in tax exemptions.
The design of the hotel has been undertaken by PEN Constructions.
