Hilton and Ionian Hotel Enterprises Announce Plans for New Luxury Hotel and Residences in the Heart of Athens

ATHENS and MCLEAN, Va. - Hilton (NYSE: HLT) and Ionian Hotel Enterprises (IHE) have announced an agreement for a new hotel and residences to be developed by IHE in the Greek capital. The news marks the introduction of Hilton’s luxury brands — Conrad Hotels & Resorts, Conrad Residences and Waldorf Astoria Residences — to Greece. A renowned city landmark currently operating as Hilton Athens is set to be transformed into a new destination comprising a luxury hospitality and residential offering, which will connect authentic modern-day Athens with its Greek and international audience. 

Simon Vincent, executive vice president and president, EMEA, Hilton said, “For more than half a century Hilton Athens has played a pivotal role in the city’s emergence as a global destination, welcoming international guests, royalty, and captains of industry. We’re incredibly proud to continue that legacy with the introduction of Conrad Hotels & Resorts alongside Waldorf Astoria and Conrad branded residences. Hilton’s luxury brands are on a powerful growth trajectory, with new properties opening in Sardinia, Kuwait, Tulum, Rabat, Shanghai and Los Angeles in the next year. With contemporary luxury interiors, seamless service and stunning views overlooking the ancient citadel of the Acropolis, this is set to be an incredible addition to the portfolio.”

The agreement strengthens the longstanding partnership between Hilton and IHE, and represents a significant milestone in Hilton’s 60-year legacy in the Greek capital. Hilton Athens first opened its doors in 1963 as the first major international hotel in Greece and has been instrumental in Athens’ growth as a leading travel destination, offering unforgettable hospitality experiences to visitors from all over the world. An integral part of the city’s history, Hilton Athens is cherished by the Athenians, who had fervently demonstrated this during an extensive stakeholder survey carried out by IHE a year ago, in which Hilton was viewed as a key element of the new destination’s identity. 

The new destination represents a strategic investment of more than 130 million EUR by IHE — in addition to the initial c. 145 million EUR for the property acquisition — and aims to introduce an innovative mixed-use development model to the city and become a focal point of reference for both visitors and locals. It will feature a luxury hotel along with premium private residences, a private lifestyle members’ club, multiple culinary and entertainment venues, curated shopping as well as leisure and wellness experiences, with the goal of contributing further to establishing Athens among the top choices in Europe to travel or live. A well-curated blend of global and local brands will inspire the capital’s residents, as well as a wide and inclusive audience, to experience the true spirit of modern Athens. 

“Ionian Hotel Enterprises is developing a new city destination that aspires to connect the world to this vibrant capital and its people. We are honored and excited to extend our partnership with Hilton and we are confident that the legacy of Hilton Athens along with the global expertise of Hilton will contribute significantly towards making this new destination a successful contributor to the city’s growth,” said IHE Chairman Achilles V. Constantakopoulos, adding, “After six decades of cooperation between IHE and the group founded by Conrad Hilton, we are thrilled to now call Hilton by its first name.”

Dino Michael, senior vice president and global category head, Hilton Luxury Brands, said, “Athens is a city that perfectly responds to the needs of today’s luxury traveller. Steeped in history, with a thriving cultural and entertainment offering, it’s a fitting location in which to introduce our Conrad Hotels & Resorts brand. Increasingly, we’re also seeing significant demand for branded residences that offer our signature luxury hospitality, so we are particularly pleased to be expanding our partnership with IHE to introduce this exciting concept to Athens for the first time.” 

The new Conrad hotel, which is expected to welcome its first guests in 2024, will include approximately 280 stylishly appointed guest rooms and suites, alongside approximately 50 private residences under the Conrad and Waldorf Astoria brands. The development marks the latest European entry for Hilton’s rapidly expanding luxury portfolio, joining trading European properties in locations including Portugal’s Algarve, Amsterdam, and Rome. Spanning five continents with 40 properties, Conrad Hotels & Resorts creates a seamless connection between contemporary design, leading innovation, and curated art to inspire the entrepreneurial spirit of the globally connected traveller.

In addition to the brands’ renowned hotel offerings, Waldorf Astoria and Conrad boast a best-in-class global residential portfolio of properties that provide the comfort of a private home featuring luxury design, unsurpassed amenities, and legendary service in locations including Koh Samui, Chicago, Dubai, and Las Vegas.

About Ionian Hotel Enterprises

Ionian Hotel Enterprises S.A. is one of the leading companies in tourism, hospitality and asset management in Greece. The company owns a historic and emblematic property in the center of Athens, with an exceptional legacy in international hospitality. This unique landmark is currently being transformed into a new city destination that will feature a luxury hotel and premium private residences, a private lifestyle members’ club, multiple culinary and entertainment venues, curated shopping as well as leisure and wellness experiences.