Two Greek Australian investors are the new proud owners of one of most successful hotels in Perth.
Con Berbatis and George Atzemis have paid $44 milion for the Holiday Inn hotel on Hay Street, which is the first major hotel deal in the CBD for the last 18 months according to a recent report
in the West Australian.
The hotel is considered by experts to be one of the best located in Perth while showing a strong financial performance.
The two Greek Australian, who became friends as students in pharmacy school, have worked together since 1969, when Mr Berbatis was working in a pharmacy owned by Mr
Atzemis.
Their shift into the development business began in 1981 with an investment in a medical centre.
Eventually, their business ventures included shopping centres of which currently they own three.
The two friends aspire to establish their new hotel possession into a hot spot for dining and drinking. The hotel has a 4.5 star rating and it includes 181 rooms.
“We see opportunities to improve the restaurant and the drinking facilities and create
an ambience which will be frequented by people who are in the city,” Mr Atzemis said to the West Australian. The report also highlighted Mr Berbatis’ sentimental reasons for being especially content with the deal, because as he explained: his godfather, Nicholas Pilatis was the first Greek to own a hotel in WA.
