Athinaion Tourist Enterprises SA and Yes! Hotels Group have announced a merger to create the new Donkey Hotels chain in Greece.
The announcement follows the absorption of YES! Hotels by Athinaion SA (Athenaeum Intercontinental Hotel), which is owned by the Ioannou family.
According to the news, Donkey Hotels will look to acquire and/or manage existing hotels in urban centers and to develop new units in popular destinations in Greece. The chain’s president, Christos Ioannou had this to say about the new brand:
“With this move we aim to highlight our successful presence in the hotel industry and create economies of scale and synergies that will give great momentum to Donkey Hotels.”
Donkey Hotels will also look to expand and attract domestic and international investment funds soon, according to the news. The GTP report says the Ioannou family will control more than 94 percent of Donkey Hotels.
The initial portfolio of Donkey Hotels includes the luxury 5-star Athenaeum Intercontinental in Athens, the 51-room Semiramis (member of Marriott’s Design Hotels) in Kifisia, Athens; the NEW Hotel (member of Marriott’s Design Hotels and of Virtuoso luxury travel network) in central Athens; and the 22-room Periscope (member of Marriott’s Design Hotels) in central Athens.