The shareholders of the company “ANONYMOUS HOTEL AND TOURISM COMPANY "ATTIKOS OURANOS"”, owner and operator of the historic Athens Zafolia Hotel (the “Hotel”), announce the completion of the sale of the entirety (100%) of the company’s share capital to Highgate and Eternam.
Highgate is a leading international hotel investment and management company, while Eternam is a leading French asset management company, the relevant announcement notes.
The acquisition was completed through a special purpose vehicle established by Highgate and Eternam specifically for this transaction. Highgate will henceforth undertake the management of the Hotel under a long-term management agreement.
The Hotel, which is located in the heart of Athens on Alexandras Avenue, has for decades been a landmark for the city’s hotel sector and is inextricably linked with the experiences of successive generations of visitors to the Greek capital.
The modern hotel unit features 191 rooms, a swimming pool and a top-floor restaurant with panoramic views of Lycabettus, while it is located at the center of the city’s business district and courts, a short distance from Athens’ most important leisure and cultural points of interest.
From the start of its operation and throughout the course of its journey, the Hotel remained under the ownership of the Zafolia family, constituting tangible proof of the family’s enduring dedication to the hospitality sector, its business vision, and its long-term investment both in the property itself and in its people. This transaction marks the completion of an important chapter for the Zafolia family and the beginning of a new era for the Hotel.
Mr. Stefanos Zafolias, Chairman and Chief Executive Officer of Athens Zafolia Hotel, stated:
“We are particularly pleased to have worked with Highgate and Eternam to complete such an important transaction. This emblematic property has been owned by our family since 1977 and is inextricably linked to the history of Athenian hospitality.
I would like to take this opportunity to warmly thank our customers, our partners, our suppliers and, of course, all our employees, who stood by us throughout this special journey.
Their dedication and support were of decisive importance in establishing Athens Zafolia Hotel as one of the city’s most recognizable hotels. We wholeheartedly wish every success to Highgate and Eternam. We look forward to seeing the Hotel continue to grow and prosper, building on the strong foundations and reputation that were built through decades of dedication and hard work.”
Argenta Corporate Finance acted as the exclusive financial advisor to the Hotel and the Zafolia family, while the law firm Kyriakides Georgopoulos acted as their legal advisor. The law firm Papapolitis & Papapolitis acted as legal advisor to Highgate and Eternam.