Subsequently, an aerial tramway (the Parnitha Funitel) would be built in 1972 to help transport quests up to the hotel.

[8] The program had the support of Prime Minister Konstantinos Karamanlis, who also suggested the name "Mont Parnes", as a nod to the French district of Montparnasse.

[7][2][1] Reportedly Konstantinos Tsatsos, who cut the ribbon at the inauguration, would subsequently deem that the hotel was "a failure both artistically and financially.

In 1972, an aerial tramway was built by the Swiss company Haberger, which bypassed the curves of the road that went up to the hotel.

The earthquake caused cracks in the building, the northwest wing deviated from the vertical, and the nightclub collapsed.

The call for interest was made in August 2001 and by December of the same year two proposals had been submitted, from the joint ventures "Casino Attica" and "Hyatt-Hellenic Technodomiki".

[13] The auction took place in May 2002 and the consortium Hyatt-Hellenic Technodomiki won the bid, with a price of 92.1 million euros.

The tender was awarded in August 2002 to Hyatt-Hellenic Technodomiki, with a final cost of 120 million euros.

[2] In 2008, three of the hotel's facades were deemed to be protected by the Central Council of Modern Monuments of the Ministry of Culture.

[2] It is located at an altitude of 1,078 meters above sea level and has a panoramic view of the Attica Basin.

Building's basements, hotel rooms, public and auxiliary areas, as well as the nightclub had collapsed completely.