Greek Hospitality Group Greek Lampsa Hotels It expects 2021 to outperform next year and return to nearly pre-pandemic levels despite the fact that new measures imposed by Greece to curb the spread of the Omicron variant have for the time being brought the market to a halt.
Laskaridis Group owns and actively participates in the Greek tourism sector, Lampsa’s portfolio includes the Grande Bretagne Hotel, King George, and Athens Capital Hotel – MGallery, all located in Syntagma Square. The group also owns the Sheraton Hotel in Rhodes and two hotels in Belgrade.
According to management sources, this year the hospitality group saw luxury Grande Bretagne and King George hotels post 60 percent of their pre-pandemic performance numbers. for 2022The group estimates key performance metrics for five-star hotels Between 80 and 85 percent of 2019 levels, considering that the situation surrounding the Omicron variant does not escalate.
Moreover, despite the pandemic this year, the performance of the third Lampsa Hotel to open this year at Syntagma – the Athens Capital Hotel – MGallery, a project of Lampsa and the multinational group Accor – has been particularly satisfying, sources say.
Located in the building where the historic Kings Palace Hotel once operated, Athens Capital, a member of Accor’s MGallery hotel group, features 177 luxury rooms and suites, three restaurants, and artwork by Greek artists.
The group also expects the Sheraton Hotel in Rhodes to close this year with its key performance metrics at around 50 percent compared to 2019 levels. For 2022, Lampsa estimates that the Sheraton’s performance will rise to 80-85 percent of pre-pandemic levels.
Moreover, two Lampsa hotels in Serbia, Hyatt Regency Belgrade and Mercure Excelsior, have performed satisfactorily this year and are expected in 2022 to reach performance between 85 and 90 percent of pre-pandemic levels.
This year, sources said, Lampsa saw a 170 percent increase in sales compared to 2020. The hospitality group showed an improvement in earnings before interest and taxes (EBITDA), which in the first nine months of the year reached 12.6 million euros against a loss of 5.7 million. Euros during the same period in 2020.
It should be noted that Lampsa has another investment project in the hospitality sector in the pipeline. The group has plans to renovate a property owned by the social security entity e-EFKA on Zalokosta Street in Athens and create luxury apartments.
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