Greece may continue to write an impressive success story in recent years as a popular tourist destination, with performance figures continuing to rise, but the problems facing businesses in the sector have not disappeared.

Thus, the electronic auction platform continues to feature a number of hotel properties, as a result of debts accumulated in the past.

Against this backdrop, even at the height of the summer season, 45 such properties, both large and small, in various parts of the country are expected to face the electronic auction hammer from the beginning of September and over the following period.

It should be noted, however, that up until the date of each auction, it is possible for the proceedings to be suspended or cancelled, depending on any legal action that may have taken place in the meantime. It should also be noted that, for properties that are operating, the enforcement process itself does not affect their operation.

The Most Expensive

Leading the race in terms of asking price is the property that formerly housed the “Athenaeum Palace & Luxury Suites” hotel on Syngrou Avenue, which has its own eventful history…

This large commercial property was initially converted into office space, housing the headquarters of the shipping group Attica Group for several years. It was subsequently converted into a hotel and, following its lease, began operating as the “Athenaeum Palace & Luxury Suites” in June 2018, with 109 rooms, 37 of which were suites.

The abandoned “Athenaeum Palace & Luxury Suites” on Syngrou Avenue is going up for auction on September 9, with a starting bid of €14.7 million.

Its operation was short-lived, however, as it closed following a fire in December 2019 and has remained unused ever since. Indeed, signs of abandonment have been evident for some time, with several of the glass panes on the main façade broken, walls covered with graffiti and slogans, and the interior reportedly having been turned into a place where various individuals stay and pass through.

As noted in the seizure report, “the property is not operating and is abandoned,” with its state of maintenance judged to be “below average,” while “the renovation cost amounts to €4.5 million and is deducted from the market value.”

The auction has been scheduled for September 9, with a starting bid of €14.7 million. However, according to reports, following an appeal by the owner, the price was subsequently increased to €21 million. Naturally, there remains the possibility that the auction will be suspended by then, as has happened in the past.

The recent seizure report notes that “in 2020, a fire broke out in the building and extensive damage exists in its interior.” More specifically, on December 5, 2019, a mysterious fire broke out, completely destroying at least three floors, seriously injuring three people and putting dozens of others at risk, while miraculously no lives were lost. It was subsequently established that the fire had been deliberately set, and those responsible were convicted.

The auction concerns three adjacent plots, legally compliant and buildable, within an approved city plan, which have been consolidated into a single plot measuring 1,550.90 sq m, at the location “Molyva” or “Malama” or “Agios Sostis,” at 123-125 Syngrou Avenue, as well as the aforementioned property.

A six-story building with four basement levels was constructed on the plot around 2008. It had been used as a four-star hotel, covering 8,846.95 sq m, with a capacity of 109 rooms and other hotel facilities, including restaurants, a spa, reception areas, etc.

“Assa Maris Beach Hotel”

Unlike the “Athenaeum Palace & Luxury Suites,” the “Assa Maris Beach Hotel” in Halkidiki appears to be fully operational. It has been scheduled for auction on December 9, unless the proceedings are suspended, with a starting bid of €3.8 million.

The “Assa Maris Beach Hotel” in Halkidiki is going up for auction on December 9, unless the proceedings are suspended, with a starting bid of €3.8 million.

It is a 19,411.40 sq m property located in the land area of the Municipal Community of Agios Nikolaos, in the Municipality of Sithonia, Halkidiki, at the “Elaion” location. A furnished-apartment-style hotel complex has been built on the site under the name “Thalassa Assis” (“Assa Maris Beach Hotel”), consisting of 91 rooms with a total capacity of 157 beds. The buildings have a total area of 2,327.76 sq m of main-use space, 394.52 sq m of underground auxiliary space and approximately 931.71 sq m of covered semi-outdoor areas. They include an administration, office and reception building; a restaurant, kitchen and lounge building; and eight room buildings (bungalows).

The outdoor areas include an asphalt parking area, extensive tree planting, two tennis courts, an outdoor swimming pool and a covered semi-outdoor bar measuring 60 sq m. The property is noted to have direct access to the beach.

In Corfu

The next property is located in Corfu and is scheduled to go up for auction on October 14, unless the proceedings are suspended, with a starting bid of €2.9 million.

It is a hotel complex operating under the name “Sun Gate Hotel,” with approximately 78 rooms and 226 beds, rated four stars. It was built on a plot with a total area of 9,335 sq m at the “Melitsa” location in Peroulades, Municipality of North Corfu.

The “Sun Gate Hotel” in Corfu is going up for auction in October for €2.9 million.

A 7,865.98 sq m section of the plot lies within the settlement, while 1,469 sq m lies outside it. The total building coverage is 2,329.26 sq m and the total built-up area is 3,014.63 sq m, plus semi-outdoor areas and balconies. The complex consists of eight buildings, while a central swimming pool measuring 7 × 16 meters and an adjoining smaller children’s pool have been constructed outdoors. A tennis court has also been built on the side of the plot facing the “Loxida” stream. The construction quality of the buildings is good, as is their state of maintenance. The report notes that, when the property was seized on March 9, 2026, maintenance crews were working within the hotel complex to improve its condition.

Also in Corfu is the “Damia Hotel,” which is scheduled to go under the hammer on September 23. It is noted that the debtor company previously filed an appeal, following which a decision by the Single-Member Court of First Instance of Corfu increased the starting bid from €1.46 million to €2.36 million. Two unsuccessful auctions followed, and the next one will therefore take place at a price reduced by 20%, to €1,888,000.

The “Damia Hotel” in Corfu is going under the hammer in September.

The property consists of a 5,748.70 sq m plot containing 25 olive trees, several walnut trees and a fig tree, located at the “Kardaki Aparsi” site within the boundaries of the Peroulades settlement in Corfu.

A hotel with a capacity of 40 rooms (71 beds) has been built on the plot, consisting of a two-story building measuring 900 sq m and a single-story building measuring 400 sq m. A large and a small swimming pool dominate the outdoor areas. During the inspection, the external condition of the property was found to be good, and it appeared to be operating.

In Crete

From Corfu, we move to Crete and a hotel property located in Anissaras, in the Municipality of Hersonissos, Heraklion, at the “Froudia” location. It is a property owned by Galini S.A., with the auction scheduled for September 30 at a starting price of €1.614 million.

A hotel complex with 51 rooms (47 doubles and 4 singles) and 98 beds has been built on a legally compliant and buildable plot measuring 5,841.40 sq m. It consists of a two-story building with a basement, swimming pool and outdoor bar, as well as two other buildings. The ground floor and first floor, which contain the hotel’s main facilities, each measure 579 sq m, while the basement, containing auxiliary facilities, measures 220 sq m. The swimming pool and surrounding area cover 103 sq m, while the undeveloped outdoor space is generally landscaped with paving, ornamental plants and trees. During the inspection, it was found that the property had not been renovated and that its maintenance level was considered moderate to poor.

A four-part auction has been scheduled for October 21 involving the “Alianthos Beach Hotel” and other plots of land in Plakias, Rethymno.

A four-part auction is scheduled for October 21 for the “Alianthos Beach Hotel” and other plots of land in Plakias, Rethymno.

The hotel is situated on a 582.34 sq m legally compliant and buildable plot in the local community of Myrthios, municipal unit of Finikas, Municipality of Agios Vasileios. It comprises two buildings operating as a tourist accommodation facility offering rental rooms (three-star category). The first is three stories high and the second two stories, consisting of a 79 sq m basement, a 350.58 sq m ground floor, a 350.58 sq m first floor and a 236.25 sq m second floor, for a total area of 1,016.42 sq m.

Part of the surrounding area has been enclosed with a metal structure—an approximately 125 sq m extension—which contains a dining area. The property was originally built in 1980, with the last major renovation taking place around 2010–2015. It is well maintained and occupies a particularly advantageous location, directly by the sea. Its starting price has been set at €1.315 million. On the same day, three other auctions are being held against the owner company for three plots of land in the same area, with a combined starting bid of €2.2 million.

In Chania, within the boundaries of the Municipal Unit of Theriso, in the Makrys Toichos/Daratso area, the next property is scheduled to go under the hammer on October 7, with a starting bid of €1.224 million.

It is a complex of rental apartments operating under the name “Sun Beach Apartments.” It occupies a 382 sq m plot located a two-minute walk from a sandy beach. The tourist accommodation has three rooms/apartments on the ground floor and four on the first floor. It also has a basement with auxiliary uses and a rooftop, while the surrounding area features a swimming pool.

In Other Areas

In Skiathos, we find the next property, formerly operated by the company Skiathos Club. It is scheduled for auction on October 7, with a starting price of €1.5 million. It is located at the “Katsaros” site and occupies a 4,915.37 sq m plot. It consists of two independent buildings with a total built-up area of 1,504.53 sq m and had a capacity of 31 rooms and 70 beds. According to the report, it is not operating and requires renovation.

Another auction has been scheduled for November 4 for the “Erodios” complex next to Lake Kerkini.

The 17,933.09 sq m plot is located at the former “Bairia” site in the Municipal Community of Lithotopos, Municipal Unit of Irakleia, Serres. A hotel complex was built on the site around 2014, consisting of a main building, two room buildings and an auxiliary storage building. The starting bid is €1.4 million.

The “Erodios” complex next to Lake Kerkini is scheduled to go up for auction on November 4.

In Messenia, specifically in the Community of Siderokastro in the Municipality of Trifylia, in the Vlassada area at the “Kotroni” location, is the four-star furnished-apartment hotel “Natura Club Hotel & Spa.” It consists of an 8,256.93 sq m plot with a complex of 40 rooms (71 beds), with a total area of 1,619.81 sq m of main-use spaces and 621.37 sq m of underground spaces, spread across four separate buildings. It is noted to be exceptionally well maintained, with new-generation equipment, a swimming pool, stone structures and more. The auction is scheduled for December 16, with a starting price of €1.38 million.

Also in Messenia, in Kalo Nero in the Municipality of Trifylia, is the “Oasis” hotel, scheduled for December 9 with a starting price of €1.37 million. It occupies a 7,087 sq m plot and consists of single- and two-story buildings with a basement. It has a capacity of 32 rooms and 80 beds.

The list is rounded out by several other properties in various parts of the country, including Edessa, Xanthi, Metsovo, Grevena, Aegina, Tripoli, Katerini, Serres, Pelion, Arta, Preveza, Volos, Kastoria, Naousa, and elsewhere.

On Mount Mainalo

One particularly distinctive case, however, is the “All Seasons Paradise Hotel” complex, owned by businessman Marinos Paravalos, which, together with an adjacent property, has been scheduled for auction on November 11, unless the proceedings are suspended by then—something considered highly likely.

The “All Seasons Paradise Hotel” on Mount Mainalo is going under the hammer on November 11, unless the proceedings are suspended by then.

The property is located at the junction of the Vytina–Chrysovitsi and Chrysovitsi–Stemnitsa provincial roads, at the “Mourtzia” site in the Local Community of Piana, Municipal Unit of Falanthos. It is an impressive complex spread across 26 acres, with unique characteristics both because of its location—amid the beautiful natural landscape of mountainous Arcadia and in the shadow of Mount Mainalo—and its facilities, including wooden chalets and distinctive furnishings.

The starting bid for the complex—without an internal inspection—stands at €595,000. An adjacent property is also being auctioned, with a price of €351,000. Attempts were made to auction it twice in the past, but the proceedings were suspended.