With a sales increase of 7%, close to €120 million, and an EBITDA increase of 12%, above €38 million, the management of Lampsa estimates that this year will close for the hotel group. According to the group's executive chairman, Chloe Laskaridis, this is a record year in terms of sales and EBITDA, which is mainly attributed to the increase in average room rates.

THE AVERAGE ROOM RATES

According to the data available so far, in 2024 the average room rates per hotel will be as follows:

• Great Britain: €538 from €502 last year
• King George: €490 from €470 last year
• Athens Capital: €311 from €270 last year
• Hotels in Belgrade: €166 from €139 last year

MIDDLE EAST

With regard to the slightly lower occupancy rates recorded in Athens, and particularly in Great Britain, the geopolitical developments in the Middle East did not help, but the very high temperatures that prevailed in the centre of the capital for a long period of time.

GUIDANCE FOR 2025

With regard to the coming year, based on the pre-bookings and the management plan, a new rise is expected, albeit at a lower growth rate, namely 4% in sales and 5% in EBITDA.

ELATOS RESORT

With regard to the group's investments, as Ms. Laskaridi mentioned, significant emphasis is placed on the Parnassos project, Elatos Resort. This is an investment that is expected to exceed €30 million; as the group head said, "our goal is to create a luxury wellness mountain spa resort that will operate 12 months a year and will compete with the major resorts of Central and Northern Europe, such as Switzerland and Austria.". It will feature 42 wooden bungalow chalets, with 2-4 rooms each, while the main building will house 15 keys. Ms. Laskaridi added that the group is also looking at side investments in the area, as the family owns a lot of land—recall that Laskaridi's grandmother's village is located there—so farm-to-table will also be considered, meaning the resort will use local produce produced on some of the land. This is a complex project due to the location and the difficulty in accessibility, but the administration's planning calls for it to start operating in the winter of 2026/2027. Lampsa is in advanced discussions about the resort brand, which will be with one of the three partners of the group. Management believes strongly in winter tourism, a sector in which it intends to make further investments should opportunities arise.

ZALOKOSTA PROJECT

Furthermore, the group's new boutique hotel, at 7-9 Zalokosta Street, is scheduled to start operating on January 20, 2025, an investment that eventually reached €3.5-€4 million. The group's new hotel will have a capacity of 17 suites and will operate as a complement to the Athens Capital Center Hotel-MGallery Collection on Kriezotou Street. We recall that the building on Zalokosta Street is owned by the EFKA, is classified as a newest monument, and was leased (at a monthly rent of €34,500) for 30+10 years by the Lampsa Group, in the framework of a relevant tender. With regard to the car park that operates next door, the contract with the existing tenant expires in six months, and Lampsa is waiting for the bidding process that will be conducted by EFKA to see if it will eventually be rented as an open-air car park or for another use and proceed with its own actions. We recall that the group has first right of refusal in the tender for this parking lot.

CASINO

On the issue of the relocation of the casino from Parnitha to Maroussi, the Laskaridis group (and North Star Entertainment, which will implement the Voria project) is awaiting the decision of the Council of State, which is expected within the month, at most by next January, in order to start work in 2025 and complete within three years the mega project of €250 million, which is a complex investment in tourism and recreation, which will include:

• casino
• a five-star hotel with 150 rooms
• spa
• 836 underground parking spaces

THESSALONIKI

Regarding the Hyatt Regency Thessaloniki, Ms. Laskaridi believes that after the acquisition of the stake held by the banks, the project is of great interest beyond the casino. "We took over the management as Lambsa, and we are initiating many changes towards its evolution into a city resort that will attract new customers," she said, adding that "even in Thessaloniki, which shows strong growth prospects as a tourist destination, opportunities that may emerge in the ultra luxury hotel category are always evaluated."