"The Ilisian" is the new name of the former Hilton, which will no longer be a hotel with hospitality services but a new multi-dimensional destination created by Ionian Hotel Company at the location of the former Hilton Athens, on Vassilissis Sofias Avenue.

In fact, Achilleas Konstantakopoulos, Chairman of TEMES and a major shareholder of the Ioniki Hotel, revealed the destination's new name today at a special event held at the development site in the presence of Prime Minister Kyriakos Mitsotakis. He claimed that the Ilisia neighborhood, where it is located, served as inspiration for the name. In his intervention, Prime Minister Kyriakos Mitsotakis pointed out that such investments essentially put into practice the government's vision of a tourism committed to quality and sustainability with respect to the residential scale. At the same time, he spoke of a multiplier benefit for the Greek economy, which will reach a total of €1.25 billion in five years.

This is an investment that will exceed €340 million, which, as Mr. Konstantakopoulos stressed, will have multiplier benefits for Athens as a whole. "The Hilton has been an emblematic point of the city for 61 years. With respect to its unique heritage and architecture, we want it to continue to operate as an attraction for all.

€1.25 BILLION BENEFIT FOR THE ECONOMY

Regarding the benefits that will accrue for Athens from the operation of the new resort "The Ilisian," the professor of the University of Piraeus, Nikos Georgakopoulos, pointed out in a survey conducted by the educational institution that these will be multiplied as: for the first 5 years of operation, the impact of construction work amounts to 450 million euros. For the first five years of operation, the impact of the accommodation of the residents of The Ilisian in the capital amounts to €450 million, while the impact on commercial activity amounts to €75 million. At the same time, 1,760 new direct and indirect jobs will be created.