Completion of Acquisition

RNS Number : 7887Y

Park Plaza Hotels Limited

31 December 2010

 



31 December 2010

Park Plaza Hotels Limited

("Park Plaza")

Completion of Acquisition of interests in, and related loans to, three London hotels from Elbit Imaging Ltd ("Elbit") and issue of 1,000,000 Park Plaza shares

Further to the announcement dated 30 December 2010, Park Plaza is pleased to announce that it has completed the acquisition from the Elbit group of the interests in, and related loans to, the Park Plaza Sherlock Holmes Hotel, Park Plaza Victoria Hotel and Park Plaza Riverbank Hotel which the Park Plaza group does not already own.

In accordance with the sale and purchase agreement 1,000,000 Park Plaza shares, which form part of the consideration, have been admitted to trading on AIM today.

Contacts:

Park Plaza Hotels	[phone]
Chen Moravsky, Chief Financial Officer
Hudson Sandler	[phone]
Wendy Baker / Kate Hough
Investec Bank plc	[phone]
James Grace

Notes to Editors

About Park Plaza Hotels:

Park Plaza Hotels Limited is owner, operator and franchisor of hotels in Europe, the Middle East and Africa.  The majority of the group's hotels operate under the Park Plaza Hotels & Resorts brand (part of Carlson Hotels Worldwide), over which the Group has exclusive rights in 56 countries in EMEA, or art'otel, a brand which the company fully owns.  Park Plaza Hotels also manage the luxury all-suite Plaza on the River- Club and Residence, London.

Through it strategic partnership with Carlson, one of the world's largest travel and hospitality companies, Park Plaza Hotels has access to Carlson's powerful reservation and distribution system, airline partnerships with 20 airlines, loyalty programmes such as goldpointsplus^SM for guests and Look To Book^® for travel agents and cross-selling opportunities. 

The Group currently has around 40 hotels and aparthotels, with more than 8,500 rooms, in operation. New projects under development include Park Plaza Marrakech, Park Plaza Nuremberg, art'otel amsterdam and art'otel london hoxton.

Park Plaza Hotels' shares are admitted for trading on London's AIM Stock Market.

Our Brands:                      Our Company:

www.parkplaza.com           www.parkplazahotels.net

www.artotels.com

Contact:

Robert Henke - Vice President Marketing

[phone]

For images and logos visit www.vfmii.com/parkplaza 

 

END

 

 

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