Isrotel Buys Stake in New Athens Hotel for Tens of Millions

Israeli hotel group Isrotel is expanding its international presence by acquiring a 50% stake in a new hotel under construction in Athens, Greece. The deal, valued at tens of millions of euros, involves a hotel located on Theatrou Street in the historic center of Athens, near Monastiraki Square and key tourist attractions. The hotel, set to open in the second quarter of 2027, will feature 171 rooms and will be managed and operated by ALUMA, Isrotel's international hotel arm.

The new hotel is situated in a historically significant building that once housed Athens' first modern theater. The design aims to blend the building's authentic architectural character with a contemporary urban hospitality experience. It will include amenities such as restaurants, bars, a spa, a hammam, an indoor pool, and a gym, catering to both leisure and business travelers.

ALUMA will oversee the hotel's operations, adhering to Isrotel's standards. Additionally, the hotel will operate under a franchise agreement with Radisson Hotel Group, leveraging its global distribution network and customer base. This partnership is expected to enhance the hotel's international reach.

This acquisition deepens Isrotel's footprint in Greece, which has become a primary focus for its international activities since launching the ALUMA brand in March 2024. Currently, ALUMA operates three hotels in Athens: Skylark, Anise, and Adia, with another wing at Anise scheduled for completion in 2027. Isrotel is also developing a hotel in Thessaloniki and two projects in Rome.

Isrotel currently manages 27 hotels in Israel with over 5,300 rooms. The company's international strategy focuses on urban properties in prime locations within leading tourist cities, with Athens at the forefront of this initiative. "We believe strongly in the hotel and its potential," stated Lior Raviv, CEO of Isrotel. "This is an exceptional asset with a unique historical character and a central location in a city enjoying significant tourism momentum. The deal is an important step in expanding Isrotel's international operations and establishing the ALUMA network as the group's hotel platform in Europe."