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Cypriot Company sells hotels to US company in £143 million deal

Blackstone Real Estate Partners Europe, a unit of US private equity firm Blackstone Group, agreed to buy five hotels in Greece from Louis Group in a deal valued at 178.6 million euros (197 million dollars), the firm said on Friday.

Greece has seen an upsurge in tourism in recent years. A record number of about 33 million visited year.

The five hotel businesses are all located in the Greek islands – two in Corfu, two in Zakynthos and one in Crete.

Under the deal, Louis group will continue to operate the hotels under the management of HIP, a firm acquired by Blackstone real estate funds in 2017.

HIP, with a portfolio of 60 hotels, is currently the third largest investor in European hotels after Pandox and Covivo. Louis Hotels operates 26 hotels and resorts in Greece and Cyprus.

Blackstone Group this month raised the largest ever real estate fund, amassing 20.5 billion dollars to be invested in property assets around the world.

[Reuters]

 

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Cyprus President Anastasiades leaves for New York on Saturday to attend UN General Assembly

President of the Republic of Cyprus Nicos Anastasiades departs for New York via London on Saturday, 21 November, to take part in the deliberations of the UN General Assembly and address the plenary on Thursday.

In London he will deliver …

Facial reconstruction appeal – investigation into discovery of human remains

A facial reconstruction has been created in a bid to identify a man whose remains were discovered in Forest Gate in 2016.

Shortly before 1600hrs on Friday, 29 April, police were called to reports of skeletal remains found in a …

First person in UK to be convicted and sentenced for firearms manufacture using a 3D printer

[Image: Firearm produced using 3D printer]

Man sentenced in UK first conviction for firearms manufacture using a 3D printer.

Tendai Muswere, 26 (24.04.93), of Tachbrook Street, SW1, was sentenced today (Thursday, 19 September) to three years imprisonment in what is

Win tickets to see the popular Greek singer Eleftheria Arvanitaki perform in London

One of the most successful Greek singers, Eleftheria Arvanitaki performs her mix of traditional, rebetiko and Asia Minor influences with contemporary influences from Greece and the Mediterranean.

As part of her Dynata European tour Eleftheria Arvanitaki will be at the

Events at the Cypriot Community Centre

The Cypriot Community Centre, Earlham Grove, Wood Green, London N22 5HJ, proudly presents the Grand opening of the Triple ‘C’ Bar on Friday 11th October 2019 from 6.30pm – 12pm, with an evening of entertainment starring the incredibly talented stand …

Urgent Appeal: Help find a donor match for UK Cypriot Talia

Young UK Cypriot Talia Tosun was diagnosed with Acute Lymphoblastic Leukaemia, a type of blood cancer, in May. Unfortunately, after undergoing unsuccessful chemotherapy, she now needs a stem cell transplant.

The best possible match for Talia would be from someone …

Ferry Link Cyprus to Greece expected to start Summer 2020

The Cypriot Shipping Ministry has announced its plans to launch the ferry link connecting Cyprus and Greece, in May 2020, just in time for the peak summer season.

According to reports, the ferry service will be available once a week …

Hertfordshire Council: Get your salt in now in time for winter

Resident and community groups can get free salt to grit their streets from Hertfordshire County Council, as the council starts to gear up for the winter.

The county council is also offering salt to schools, to help them stay open …

Temporary housing tackled in bold move by Enfield Council

The extensive use of temporary accommodation and housing residents outside of Enfield are practises that are set to be phased out by Enfield Council.

In a move spearheaded by Enfield Council’s Leader, Cllr Nesil Caliskan, the Council’s new approach is …