SWOT Hospitality now owns the building, which currently operates as Civitel, on Kifissias Avenue in Maroussi.  SWOT came to an agreement with the Olympic Committee for the lease of the hotel, for 25 + 10 years. 

According to Real Estate Daily Secret, a 3 million euro renovation is planned, along with rebranding. The goal is to create a modern hotel concept, with a strong lifestyle and gastronomy, on the model of other units run by SWOT. 

The same sources say that it has not yet been decided whether the hotel will come under the umbrella of an international hotel brand.  

After the recent deal with Intracom Properties for Olvos, in Koufonisia, this development shows that SWOT is getting more active in unit leasing and also in urban hotels.  

This move was made in a joint venture with Reds. This is SWOT Hospitality's second partnership with EllaKtor shareholder Henry Holterman, following the agreement for the management of Corfu Palace, Corfu.