Arathoon Stephen (Armenian: Արաթուն Սթիվեն; 1861 – 14 May 1927) was an Armenian hotelier and real estate developer based in British India.
Amongst other properties, he owned and developed the Kolkata institutions: the Empire Theatre and the Grand Hotel.
Born in 1861, Stephen arrived in Calcutta from Isfahan (A city & province in Iran) sometime in the early nineteenth century where he first began selling jewelry from a wheelbarrow.
Later, he opened a jewelry and antique shop at 18 Chowringhee Road and the Theatre Royale at No.
In 1911, he bought out a run-down boarding house run by Mrs. Annie Monk and built the Grand Hotel.