Africa Israel Hotels, a subsidiary of Africa Israel real estate group controlled by Lev Leviev, one of Europe's wealthiest businessmen, is set to enter the domestic hotel market through the acquisition of four three-star hotels in Bucharest. The company has so far announced investments of one billion euros on the real estate market for the medium term. "We have a huge budget for acquisitions in Romania, Russia and Germany and we plan to set up a large hotel chain. For now, we cannot disclose the exact value of the sums we plan to invest, but we will make use of any opportunity presented to us on the Romanian market," stated Samuel Shay, vice-president of Africa Israel Hotels. The hotels acquired by the Israeli group, Venezia, Opera, Palas and Central, were managed by TH Hotels company. The deal was conducted through a subsidiary in which Africa Israel Hotels owns a 60% stake, with the rest held by another partner. The Israeli company will pay 18m euros plus 900,000 euros in taxes for its part of the deal, with the rest to be covered by the partner of Africa Israel Hotels.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
