The Dimera group, controlled by Greek-Russian businessman Ivan Savvidis, is eyeing Athens’ upscale hotel market, according to the group’s executives, who spoke at an event in Thessaloniki on Tuesday to unveil a renovation project for the city’s iconic Makedonia Pallas.
By G. Hatzilidis
The Dimera group, controlled by Greek-Russian businessman Ivan Savvidis, is eyeing Athens’ upscale hotel market, according to the group’s executives, who spoke at an event in Thessaloniki on Tuesday to unveil a renovation project for the city’s iconic Makedonia Pallas.
No details were given, only that the group wants to acquire a five-star hotel on par with its Thessaloniki seaside landmark. Another major project by Dimera focuses on building a resort at the Paliouri site in Halkidiki, the main holiday destination to the east of Thessaloniki.
Nevertheless, “proverbial” Greek bureaucracy has reportedly delayed the project. The Savvidis-controlled group bought the land in Halkidiki two years ago for 14 million euros.
In terms of commenced projects, the Makedonia Pallas’ 12.4-million euro renovation is expected to be completed in April 2017, and marks the biggest such investment ever for a renovation of a Thessaloniki-area hotel.
According to company executives, the hotel’s entire entire exterior will be changed and upgraded, with a 450-square-meter spa included in the works as well as expanded conference and convention facilities.