Macedonia Palace to Get a 12.4 Million Euro Makeover
Renovations have begun in one of Thessaloniki's landmarks, the huge, seafront Macedonia Palace hotel. Its 12.4 million price tag makes it one of the most expensive hotel renovations of any hotel in the Greece's second city.
Upon the completion of Project Remake, as it has been dubbed by its managers, the Macedonia Palace will significantly raise the quality of the hotel environment and its services, says Ivan Savvides, Russian-born Greek businessman whose company rents the hotel from its owners IKA-ETAM (the Greek government's retirement and wage insurance arm) and who also owns Thessaloniki's PAOK football team.
Planned improvements of the 276-room hotel include new suites, a spa, new leisure facilities, and a large conference center. The entire decor of the hotel will be modernized, if the already-completed 8th-floor renovation is anything to go by.
Hotel business will be ongoing during the renovation, as sections of the hotel being worked on are closed off, with the hotel closing between January and April of 2017 for the work done in its public spaces. The hotel was originally opened in 1972. The renovations should pay for themselves over the next 7 years.