Highgate and Eternam Acquire Zafolia Hotel Athens
Real estate investment firm Highgate has acquired the upscale lifestyle hotel Zafolia in downtown Athens, Greece, alongside portfolio management business Eternam. The 191-room property features a seasonal rooftop pool and garden and is certified with international Green Key environmental standards. This marks Highgate's first foray into Greece and expands its Southern European presence beyond Portugal. Eternam’s acquisition of Zafolia Hotel Athens represents the second investment by Alcyon Hospitality Europe, following their purchase of Hilton Garden Inn Rome Claridge in July 2026. The company plans to renovate guestrooms and public areas as part of a broader strategy targeting urban hotels and destination resorts across Southern Europe. Eternam aims to deploy approximately €60 million in equity over the next 18 months through its hospitality funds, with Highgate emphasizing their ability to identify high-quality opportunities. Both companies see potential for value creation in capital cities like Athens and Rome.
