Athens, November 25 – The Electra Rhythm Athens hotel has officially returned to the hospitality market following an extensive six-month renovation, representing an investment of €8 million. The reopening marks a significant step in Electra Hotels & Resorts’ ambitious investment program, which has seen over €65 million invested in the last five years.
Electra Rhythm Athens: A Modern Transformation
The newly renovated four-star hotel, situated on Ermou Street, was unveiled to the public yesterday. It exemplifies the group’s strategic shift towards properties with a more contemporary identity, offering experiences tailored to the needs of the new generation of travelers. The hotel was closed from November 2024 to May 2025 for the comprehensive overhaul.
With a refreshed aesthetic and functional approach, Electra Rhythm Athens now features 101 rooms, a reduction from its previous 109. Despite the change, the hotel is already experiencing high occupancy rates, consistently exceeding 90%. This performance mirrors that of the group’s other Athens properties, Electra Metropolis Athens and Electra Palace Athens.
The guest demographic at Electra Rhythm Athens is predominantly Israeli, accounting for approximately 35% of visitors, while Greek guests make up 25%. The hotel also maintains a strong presence of travelers from America and France, underscoring its international appeal.
Electra Group’s Broader Investment Strategy
During the inauguration event, Ioannis Retsos, Vice President and Managing Director of the Electra Group, commented on Athens’ position within the European tourism landscape. He highlighted that while revenue per available room and average prices are increasing, this growth is not being matched by a balanced upgrade of the city’s infrastructure. Retsos suggested that this disparity limits the true development potential of the city.
A central pillar of the group’s investment plan is a new hotel under development in the center of Thessaloniki. This project, exceeding €35 million, is part of a larger investment pipeline totaling over €55 million currently underway. The new property, located at the intersection of Tsimiski, Ethnikis Amynis, and Dagli streets, will be the second Electra hotel in the city. It is expected to open in the summer of 2027, just before the Thessaloniki International Fair, and will feature 165 rooms, significantly enhancing the group’s presence in Northern Greece.
Simultaneously, the renovation of Electra Palace Athens in Plaka, a 157-room property, is in full swing. This project is being carried out in two phases to allow the hotel to remain operational and is anticipated to be completed in 2026. Common areas have already been upgraded, and work on the first 50 rooms is progressing. In Rhodes, the modernization of Electra Palace Rhodes, a €13 million investment, was completed last year, with plans for its expansion also in motion. Similarly, Electra Palace Thessaloniki underwent a €10 million renovation in 2020.
With the addition of the new hotel in Thessaloniki, Electra Hotels & Resorts will boast a robust network of seven luxury properties across Athens, Thessaloniki, Rhodes, and Kefalonia. Furthermore, a comprehensive rebranding initiative is in preparation, expected to further solidify the group’s standing in both the Greek and international hospitality markets. This move reaffirms Electra’s strategy for growth, focusing on quality, design, and exceptional guest experiences.
Source: https://www.businessnews.gr/epixeiriseis/item/323882-2025-11-25-05-58-48
