Louis group has announced the sale of five hotels in Greece to investment funds managed by Blackstone.
The five hotels are:
- Grand Hotel and Corcyra Beach in Corfu
- Zante Beach and Plagos Beach in Zakynthos
- Creta Princess Beach in Crete
The business value of the transaction is €178.6m while the net sales prices and accounting profit will be calculated on completion of the deal, expected before the end of the year.
Louis Hotels will continue to operate the specific hotels for HIP, the hotel company that belongs to Blackstone’s funds.