By L. Karageorgos
One of Athens’ best known upscale hotels, the Athens Ledra, closed its doors on Tuesday, citing economic difficulties.
The hotel, which lies along Athens’ main thoroughfare linking the city center with the coastal zone -- on the northbound side of Syngrou boulevard – had transferred its remaining guests to other lodgings. Media reports in Athens on Tuesday stated that hotel staff has not been paid since mid March.
The primary lender holding the largest portion of the company's debt obligations is Athens-based Alpha Bank, to the tune of 33 million euros. Previous attempts to foreclose and auction off the hotel never concluded, as creditors usually found a compromise with the owners of the Asty company, which owns the hotel and is controlled by the Paraskevaidis family.
The hotel resort was formerly known as the Ledra Marriott.
Nevertheless, the hotel’s choice location and previous five-star rating have attracted interested by other hotel chains inside and outside the country.
