Aroundtown has successfully completed the conversion of an office building into a hospitality property at Themistokleous 11 in Athens. The redeveloped building has been leased long-term to SmartRental, an operator established in the hospitality segment. For Aroundtown, this lease represents the first collaboration with SmartRental in Greece and simultaneously marks the country's first conversion of an office building to a new use. The property will operate under the name Akeah Athens City Center and features 43 rooms.
The completion in Athens is part of a series of similar transformations of office buildings into hospitality uses, which Aroundtown has already realised in other European cities. The company focuses on actively redeveloping existing properties in central locations across Europe and adapting their use to specific local demand.
Strategic Focus and Location Quality
Timothy Wright, CCMO of Aroundtown, stated that the conversion in Athens demonstrates the active redevelopment of existing properties and the targeted adaptation of real estate to demand at the respective location. Hospitality offerings are an important part of the company's conversion strategy, as they open up attractive long-term leasing prospects and contribute to the sustainable value development of the properties. Aroundtown views SmartRental as an experienced international operator who shares the conviction regarding the location's potential.
Javier Chivite, CEO of the SmartRental Group, emphasised that Athens is a market with great potential that perfectly aligns with their international growth strategy. He highlighted that Themistokleous 11 combines an exceptionally central location with the flexibility and quality that modern travellers expect. Themistokleous 11 is situated in the centre of Athens, directly within the historic triangle bounded by Omonia, Syntagma, and Monastiraki squares.
The Akeah Athens City Center offers 43 fully furnished rooms, an on-site reception, and generous gastronomy areas on the ground floor. The property's surroundings are characterised by a dense mix of retail, gastronomy, and residential uses. The central business and cultural areas of the Greek capital, including the University, Academy, and National Library, as well as the city centre's retail locations, are within walking distance.
The location benefits from direct access to public transport. The Omonia and Panepistimio Metro stations are just a few minutes' walk away, connecting the property directly to the Port of Piraeus and Athens International Airport.
