The CEE Investment Team at Jones Lang La Salle Hotels & Hospitality Group has acted as the exclusive sales agents and advisors to Quinn Insurance and its administrators at Grant Thornton Dublin in the sale of two prime hotels in Central Europe achieving a combined price of ?62m. CMS acted as legal advisors to Quinn Insurance throughout the sales process.
/ Source: Arendator.ru
The Sheraton Krakow hotel is a modern 232 bedroom hotel that opened in 2004 and is located in a prominent position on the banks of the river Vistula, close to the historic Wawel castle in Poland’s second largest city. Krakow is also particularly famous for its historic architecture and is arguably Poland’s top tourist destination. The French specialist hotel company Algonquin acquired the Sheraton hotel for c. ?38m, representing a price per key of approximately ?164,000.
The Hilton Sofia hotel is an example of a contemporary corporate-led hotel operated by Hilton on a management contract and is located approximately 2km from the city centre on a highly prominent position on a busy arterial road. The hotel generated a lot of interest from local buyers, and after a competitive bidding process, was sold for c. ?24m (c. ?98,000 per key) to a consortium of local businessmen.