Dimand’s agreement with Hilton for the American chain’s first hotel in Thessaloniki marks the beginning of a collaboration with broader implications for the hospitality industry, the Hilton Thessaloniki, which will be developed on the historic site of the former FIX brewery.
Dimand’s intention to strengthen its partnership with the international chain was expressed by the vice president and CEO of the real estate development company, Dimitris Andriopoulos, as part of the announcement of the deal with Hilton, noting that the two sides are in discussions to expand their partnership to two new projects.
Moreover, Dimand’s strategy for the coming years places particular emphasis on further strengthening its portfolio in the hospitality sector through the development of new hotel projects.
Currently, Dimand’s hospitality portfolio includes the Moxy Athens City and the Moxy Patras Marina, while the company is also moving forward with a “mixed-use project” at the former U.S. base in Gournes, Heraklion, Crete, which is in the planning phase and envisages the creation of a modern hub for commercial and tourism activities on a site of approximately 345,000 square meters.
It should be noted that Dimand served as development manager for the modernization of the “Asteria” complex in Glyfada for the development of One & Only Aesthesis.
Hilton’s Entry into Thessaloniki
The management agreement signed yesterday by Dimand and the international chain for the Hilton Thessaloniki as part of the project to revitalize the FIX complex—an investment totaling 196 million euros—marks the arrival of the Hilton brand in Thessaloniki.
This 25-year agreement is highly symbolic. It aims to change the city’s standing on the international tourism and conference map, while also serving as a catalyst for the overall revitalization of the city’s western entrance.
“The arrival of Hilton signifies much more than the development of a new hotel. It is expected to be a key link in the overall revitalization of Thessaloniki’s western entrance, in an area that is gradually transforming into a new business and cultural hub. “It is particularly important for a cultural venue to be complemented by a hotel of this caliber,” emphasized Dimitris Andriopoulos, CEO of Dimand, during the presentation of the agreement, describing the deal as “significant and symbolic” for the northern Greek city.
“We want the hotel to serve as the initial incentive for someone from Greece or abroad to visit the city,” said the head of Dimand, noting that currently only 5% of the city’s 150 hotels—that is, seven properties—operate under international brands.
The new hotel, with a capacity of 184 rooms and suites, will be developed across two buildings: one existing and one to be built from the ground up. The new building, with a floor area of approximately 11,250 square meters, will house 153 rooms, while the remaining 31 rooms will be located in the historic building of the former brewery, with a total floor area of approximately 7,000 square meters.
Work on the first phase has already begun under METKA, with completion scheduled for 2029. However, as the head of Dimand explained, the exact timeline will depend on the excavation and shoring work.
Nikos Trikourakis, head of Dimand’s Hospitality division, Nikos Trikourakis, described the agreement with Hilton as a particularly significant moment for Greek tourism, noting that the presence of the group’s most recognizable brand in the FIX project is expected to elevate the city’s overall standing.
As he noted, this is not the first time Hilton has transformed a region, recalling that the brand’s presence in Athens played a decisive role in revitalizing an entire neighborhood, which came to be identified with the chain’s name.
“The Hilton Thessaloniki is not here to compete with Thessaloniki, but to strengthen its position as an international destination. The investment will serve as a catalyst for the city’s growth, creating new jobs, opening doors to new markets, and strengthening its presence on the international conference scene,” he noted.
It should be noted that as part of the FIX redevelopment, a new residential complex will also be built, comprising 96 bioclimatic apartments in a 9-story building. Referring to the residential component of the development, D. Andriopoulos revealed that Dimand has already begun, without public announcement, pre-sales of the apartments included in the project.
“We initially wanted to test the product and gauge demand. We have already signed 10 agreements, with down payments, and all the buyers are Greeks from Northern Greece. The feedback we’re receiving is helping us shape our strategy for the next phase,” he said.
In fact, regarding the possibility of developing branded residences under the Hilton umbrella, he noted that no final decision has been made yet. As he explained, the company will assess demand trends and determine whether such an option aligns with the overall philosophy and operation of the development.
This specific project is part of Dimand’s ongoing investments in Thessaloniki, spearheaded by HUB 26, the first large-scale bioclimatic business park in Northern Greece.
Hilton’s Plans
Hilton executives, for their part, highlighted the strategic importance the company attaches to the Greek market, noting that Greece is currently the group’s most dynamic growth market in Southern Europe.
“The agreement for the Hilton Thessaloniki is not just about a new hotel; it represents a vote of confidence in Thessaloniki and Northern Greece. We are interested in the city because it is a multicultural place,” emphasized Andreas Koukas, Senior Director of Development for Greece and Cyprus at Hilton.
As he noted, Hilton seeks to further strengthen its presence in Northern Greece, while it is generally interested in expanding its investment plans to urban centers as well as to lesser-known island destinations.
“Greece is a strategically important market for Hilton and is our fastest-growing market in Southern Europe. In six years, we’ve gone from one hotel to a portfolio of 71 properties, including those currently under development,” said Alan Mantin, Hilton’s Vice President of Development for Europe, the Middle East, and Africa.
He also pointed out that Greece is now evolving into a destination that goes beyond the traditional “sun and sea” model. “Greece is not just its islands. Athens has evolved impressively as a city destination, and we believe that Thessaloniki has everything it needs to follow the same path. It serves as a gateway to the Balkans and boasts a strong culinary and cultural identity,” he noted.
About Hilton
Hilton is one of the leading international hospitality companies, with a portfolio of 28 world-class international brands comprising more than 9,200 hotels and over 1.3 million rooms in 144 countries and territories.
As for the company’s presence in Greece, Hilton currently has a portfolio of 71 hotels, 50 of which are already in operation, while the rest are under development.