The main reconstruction project planned for the Athens Hilton, hoped to turn the hotel into a destination in its own right, featuring fewer rooms but with luxurious residences and cultural- and recreational activities, has begun.

New structures are to be added to the city block which for decades has been housing the iconic hotel.

Ionian Hotel Enterprises, which owns the building, will be investing €130 million in facilities, infrastructure and equipment, in addition to the €145 million already spent since their acquisition of the property in 2016. In total, the investment will exceed €275 million and may, according to market sources, reach €300 million in its final phase.

The new complex will be built by the construction arm of TEMES, which controls the hotel, and is to be completed at the end of 2024. From January 31 until then, the Hilton hotel will be closed.

This article was previously published in Greek at moneyreview.gr.