News Article Greece hotel Hungary Indotek investment SEE
by Property Forum | Investment

Indotek Group continues its international expansion in Greece, entering the Athens real estate market with the acquisition of a three-star, 124-room hotel. The Oscar Hotel Athens is the Group's first acquisition in Greece, adding more than 6,000 square meters of space to its international real estate portfolio. The company's aim is to ensure that the hotel, which is currently closed, can reopen as soon as possible following a complete renovation, thus enabling it to be put to good use. With this acquisition, Indotek Group further strengthens its international real estate position in Greece and Southeastern Europe.

Indotek Group has acquired a hotel in Greece, bringing the total number of countries in which the real estate company is present to 12, in addition to Hungary. The three-star Oscar Hotel Athens, which is currently closed, is a more than 6,000 square metre building that Indotek Group acquired from NBG Bank of Greece with the aim of operating it on a long-term basis after a complete renovation. The hotel is in an excellent location, close to the Athens railway station, just a few kilometres from the ancient Agora of Athens and the city centre. The five-storey hotel has 124 rooms, an outdoor swimming pool, a private bar, a restaurant and a conference room.

With the acquisition of Oscar Hotel Athens, the Group has completed its first real estate transaction in Greece. The purchase is part of the company's international expansion strategy, which aims to diversify both geographically and in terms of property types, as Indotek Group is constantly looking for potential investment targets in Central and Southern Europe, among other countries, in addition to the Hungarian real estate market.