11 Greek hotels, resorts on e-auction block until end of May

Sunday, 15 April 2018 22:23

By L. Karageorgos


Eleven e-auctions of hotels and resorts by lien-holding commercial banks are scheduled in Greece until the end of May 2018, as listed on a relative online platform.

Among the units on the auction block are a handful of major hotels, including Hydra Beach resort, along with smaller units and even holiday homes.

The minimum starting price for the Hydra Beach is no less than 27.807 million euros for the primary facility, although if no bids are submitted, a lower minimum bid price in a subsequent auction is expected.
The first time the seaside resort, located in southeast Greece across from the eponymous isle of Hydra, neared the auction block was in November 2017, with a minimum starting price of 19.22 million euros set. An injunction at the time blocked the auction.

Another scheduled auction in March 2018, again with a starting price of 27.8 million euros, failed to attract a bid.

The resort covers an area of 36.3 hectares and is located at the Plepi site in the wider Ermioni district, a well-known holiday destination in the northeast corner of the Peloponnese.

The resort features 260 rooms, 79 bungalows and four suites, with its most recent renovation coming in 2009 into what was billed as a five-star facility.

Spain's Groupο Barcelo assumed its management in 2013.

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