Grivalia Properties REIC announced that its hospitality platform Grivalia Hospitality S.A.acquired the “ Meli Palace” hotel in the Greek island of Crete, ANA reports.
More specifically, Grivalia Hospitality S.A. acquired, through a 100% subsidiary, the shares of the company Hellenic Palace S.A., which holds the hotel situated on the beachfront of Malia, Crete. The luxury beachfront hotel comprises 158 rooms in circa 104,000 sq.m. of land and it is leased to a prominent operator.
The pricing paid upon signing of the share-purchase deal for the acquisition of the shares of the company net of all liabilities and other assets, is 9,000,000 euros. There is also an additional deferred payment of 2,000,000 euros, payable until 2022 in tranches, as well as an additional payment of 2,000,000 euros subject to the fulfillment of specific conditions.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
