Situated on Syngrou Avenue, near Athens' Koukaki district, the property was initially purchased by Henderson Park and Hines in June 2017 as the 315-room Ledra Marriott, with plans for significant upgrades and repositioning.

Over the past seven years, the investors transformed and expanded the hotel, increasing its capacity to 548 rooms by incorporating a neighbouring building.

This acquisition marks Blackstone's tenth hotel in Greece, a market with immense potential in the leisure sector.

Through its portfolio company, Hotel Investment Partners (HIP), Blackstone continues to allocate substantial capital to leisure investments. Since acquiring HIP, Blackstone has spent over €750 million on strategic asset management initiatives to enhance its portfolio.

Founded in 2015, HIP is jointly owned by funds managed by Blackstone and GIC. The company oversees 73 leisure properties, encompassing more than 22,000 rooms across Spain, Greece, Italy, and Portugal.