By L. Karageorgos
[email protected]
The Lampsa group this week announced that it was adding a third hotel on Syntagma Square to its stable through the long-term leasing of the Kings Palace Hotel, which operates on property owned by a supplementary fund of employees of the former Agricultural Bank of Greece.
The 30-year lease includes a lease extension clause, and is valued at 1.2 million euros per year and a dividend based on a percentage of yearly turnover.
Lampsa recently finalized a purchase of the King George Hotel from Eurobank, while it manages the Grande Bretagne, which is located adjacent to the former.
