Isrotel Acquires 50% Stake in New Athens Hotel for Tens of Millions of Euros

The Isrotel Hotel Group continues to expand its international footprint. The group has signed an agreement to acquire a 50% stake in the company holding the rights to a new hotel currently under construction on Theatrou Street in the historic center of Athens. The total value of the transaction is estimated at tens of millions of euros.

The hotel, which will feature 171 rooms and is scheduled to open in the second quarter of 2027, will be managed and operated by ALUMA, Isrotel's international hotel arm.

Historic Location and Modern Design

The hotel is situated in the heart of Athens' historic center, on the edge of the Psyri neighborhood. It is within walking distance of Monastiraki Square, the central market, and major culinary and tourist attractions. Theatrou Street leads to Theater Square, named after Athens' first modern theater built in 1836. The hotel itself is being constructed within the historic building that once housed this landmark theater.

Currently in advanced stages of construction, the hotel's design blends the authentic architectural character of the historic building with a contemporary urban hospitality experience. It will feature restaurants, a bar, a spa, a hammam, an indoor pool, and a gym, catering to both leisure and business travelers year-round.

Strategic Partnerships and Global Reach

While ALUMA will hold full operational and management responsibility, the hotel will operate under a franchise agreement with the Radisson Hotel Group. This partnership will integrate the property into Radisson's global distribution system and loyalty program, maximizing international exposure.

Isrotel's CEO, Lior Raviv, stated:

"We believe strongly in this hotel and its potential. This is an exceptional property with a unique historical character in a prime location within a city experiencing significant tourism momentum. This transaction is an important step in expanding Isrotel's international operations and establishing the ALUMA chain as our European hospitality platform."

Expanding European Footprint

This acquisition deepens Isrotel's presence in Greece, which has become the primary focus of its international expansion. Isrotel launched its international brand, ALUMA, in March 2024 and currently operates three hotels in Athens: Skylark, Anise, and Adia.

An expansion of the Anise hotel is planned for 2027, alongside a new hotel project in Thessaloniki. Beyond Greece, Isrotel is also developing two hotel projects in Rome, Italy. In Israel, Isrotel owns and manages 27 hotels with over 5,300 rooms.