NEW YORK Athens Development Minister, Nikos Christodoulakis, has lifted a four-year ban on the building of new hotels in the saturated areas near Athens. News came on the eve of a meeting with the vice president of the International Olympic Committee, visiting Athens to discuss the 2004 Olympics. Approximately 20 new hotels involving some 5,000 beds will be built on the outskirts of Athens at an estimated cost of Euro 294 million. The hotels will be close to major new infrastructure including Spata Airport. According to Christodoulakis, the additional hotel supply will enable Athens to attract more visitors in 2004 and beyond. The deregulation of the hotel market, which aims to attract international investors, is part of a wider Olympic Tourism Package, which also includes the modernization of existing hotels, expansion of conference facilities, development of thematic tourism and an advertising campaign. (11/27/00) SOURCE: HVS International
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