EMCC European Monitoring Centre on Change

Macedonia Palace

Macedonia Palace

Geographic Location

Country: Greece
Region: Thessaloniki; Kentriki Makedonia; Voreia Ellada
Location of affected unit(s): Thessaloniki


Sector: Hotel / restaurants
Accomodation and food service activities
55.1 - Hotels and similar accommodation
Number Employed: 120
Group: Daskalantonakis

Employment Effects

Announcement Date: 17-11-2011
Planned Job Reductions min: 120
Planned Job Reductions max: 120
Type of Restructuring: Closure
Employment Effect Start: 27-12-2011
Foreseen End Date: 31-12-2011
Direct Dismissals: 120

Additional Information

Macedonia Palace, a landmark hotel in Thessaloniki, is closing down and its 120 employees will remain jobless. The iconic hotel Macedonia Palace in Thessaloniki will close for business on December 27th, it was announced on Thursday, November 17. The Daskalantonakis Group issued a statement saying that it had failed to reach an agreement with Greece's main social security fund, IKA, which owns the building, to renew the lease.

The group stated that it has offered its staff the option to work at one of its other hotels. According to media reports, the hotel employees are highly concerned with the announced closure.

The Macedonia Palace was built during the 1970's and is considered one of the country's most prestigious 5 star hotels. It comprises of 284 luxury suites and has hosted a number of high profile guests.

The decision as why to close the hotel is unknown at this point.