This transaction marks Highgate's first investment in Greece and expands its platform across Southern Europe.
LONDON, Sept. 17, 2026 /PRNewswire-PRWeb/ -- Highgate and Eternam today announced that they have jointly acquired the Zafolia Hotel Athens, a 191-key independent hotel in downtown Athens.
This transaction marks Highgate's first investment in Greece and expands its platform across Southern Europe. Building upon its Portugal portfolio, the Company continues to pursue opportunities across Southern Europe spanning both urban hotels and destination resorts. Highgate is committed to bringing its 35+ years of hospitality leadership to each project it pursues throughout the region.
"This acquisition establishes Highgate's presence in Greece and demonstrates Highgate's ability to source and execute high-quality opportunities across markets," said Highgate Senior Vice President of Acquisitions Nicholas Mellis. "We are delighted to be partnering with Eternam on this opportunity, and we look forward to expanding our partnership across Europe."
For Eternam, the acquisition of Zafolia Hotel Athens marks the second investment completed by Alcyon Hospitality Europe, following the acquisition of the Hilton Garden Inn Rome Claridge in July. The third fund in Eternam's dedicated hospitality investment range, Alcyon Hospitality Europe reflects the firm's conviction in the long-term value-creation potential of European hospitality markets, particularly in major cities.
"Capital cities such as Rome and Athens combine structurally resilient leisure and business demand with quality hotel assets on which we see room for further value creation. This is an investment thesis we intend to pursue with ambition, with the fund set to deploy approximately €60 million of equity over the next 18 months," said Jonathan Donio, President of Eternam.
Zafolia Hotel Athens is an upscale lifestyle hotel in downtown Athens featuring 191 guestrooms and suites and a seasonal rooftop pool and garden with sweeping city views. It holds a Green Key international environmental certification and offers convenient access to many famed city landmarks nearby. The hotel has been family owned and operated for nearly four decades. Highgate and Eternam aim to build upon the legacy of this longstanding property with reinvestment plans that include a renovation to all guestrooms and public spaces.
For more information, please visit www.highgate.com, www.eternam.fr, or www.athenszafoliahotel.gr.
Disclaimer
FPCIs (Fonds Professionnels de Capital Investissement / Professional Private Equity Investment Funds) are Collective Investment Undertakings whose main purpose is to invest in unlisted companies. Subscription to FPCI units is reserved for the qualified investors referred to in Article L. 214-160 of the French Monetary and Financial Code, that is, investors possessing the experience, knowledge and expertise necessary to make their own investment decisions and to properly assess the risks they incur, and for the other investors referred to in Article 423-49 of the AMF General Regulation, who accept the risks of capital loss and the specific risks inherent to this type of investment. This investment is subject to a minimum lock-up period.
About Highgate
Highgate is a leading real estate investment and hospitality management company with over $15 billion of assets under management and a global portfolio of more than 400 hotels spanning North America, Europe, the Caribbean and Latin America. With a 30-year track record as an innovator in the hospitality industry, the company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. The hospitality forward company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate has a proven record of developing its diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts with contemporary programming and digital acumen. The company utilizes industry-leading revenue management tools that efficiently identify and predict evolving market dynamics to drive outperformance and maximize asset value. With an executive team consisting of some of the most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. For more information, please visit www.highgate.com.
About Eternam
Eternam is a portfolio management company active across the entire real estate value chain: real estate investment funds, club deals, and residential unit investments. Through its 30-person team, the company has developed specific expertise in sourcing and structuring transactions in commercial real estate and hospitality. Eternam manages more than 25 collective investment funds and 30 club deals, representing a total of over €1.7 billion in assets under management, including €700 million in hospitality assets, spanning more than 115 hotels and 8,000 rooms. For more information, please visit www.eternam.fr.
Media Contact
Meredith Strodel, Highgate, 1 9176129004, [email protected], https://www.highgate.com/
SOURCE Highgate
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