Conversion into 43 rooms in the historic centre of Athens, Greece, completed
Aroundtown has completed the redevelopment of the property at Themistokleous 11 in Athens and let it on a long-term basis. The 43-room property will be operated by SmartRental, an experienced operator in the hospitality segment, who will run it under the name Akeah Athens City Center. For Aroundtown, this is both the first lease with SmartRental in Greece and its first conversion of an office building in the country.
With the property in Athens, Aroundtown has once again completed the successful transformation of an office building into a hospitality use. The company has already delivered comparable conversions in several European cities. Aroundtown develops existing assets in central locations across Europe and adds uses that match local demand.
Timothy Wright, CCMO of Aroundtown: "The conversion in Athens shows how we actively develop our portfolio and adapt properties specifically to demand at each location. Hospitality offerings are an important element of our conversion strategy, as they offer attractive long-term letting prospects and contribute to the sustainable value growth of our properties. In SmartRental, we have gained an experienced international operator who shares our conviction about the potential of this location. We look forward to a successful cooperation."
Javier Chivite, CEO of SmartRental Group: "Athens is a market with great potential for us and fits our international growth strategy very well. Themistokleous 11 combines an exceptionally central location with exactly the flexibility and quality that modern travellers expect today. Together with Aroundtown, we are bringing a product to the market here that, in our view, is an excellent fit for this dynamic European city."
The property comprises 43 fully furnished rooms, an on-site reception, and spacious food and beverage outlets on the ground floor. Located at Themistokleous 11, in the centre of Athens, it sits directly adjacent to the historic triangle bounded by Omonia, Syntagma and Monastiraki squares. The commercial and cultural core of the Greek capital is within walking distance, including the University, the Academy of Athens and the National Library, as well as the main retail streets of the city centre. The surrounding area is therefore characterised by a dense mix of retail, hospitality and residential use. The location is directly served by public transport: Omonia and Panepistimio metro stations are a few minutes' walk away and link the property to the port of Piraeus and Athens International Airport.
