The Fattal Group is proceeding with the acquisition of the four-star Leonardo Crystal Cove Hotel & Spa by the Sea in Protaras, further strengthening its presence in Cyprus' hotel industry.
More specifically, according to a merger notification received by the Commission for the Protection of Competition (CPC), the Fattal Group is proceeding with the acquisition of the share capital of the companies Kriel Hotels Limited and Crystal Cove Management Ltd.
Kriel Hotels Limited is a company duly registered under the laws of the Republic of Cyprus, which is the owner of the four-star (4*) Leonardo Crystal Cove Hotel & Spa by the Sea in Protaras.
Crystal Cove Management Ltd is also a company duly registered under the laws of the Republic of Cyprus, and which operates the aforementioned hotel.
The acquisition by the Fattal Group is being made through Rennes Holdings SARL and Brick Heaven SARL. Rennes Holdings SARL is a company duly registered under the laws of Luxembourg and which is active in the operation of hotels.
Brick Heaven SARL is a company also duly registered under the laws of Luxembourg and active in the operation of hotels.
Fattal Group is the largest hospitality organisation in Israel and one of the fastest-growing hotel groups in the UK and Europe. It has more than 250 hotels in 20 countries in Europe, the UK and Israel, with more than 50,000 rooms and 40,000 employees.
The Group operates in Cyprus through Leonardo Hotels & Resorts Mediterranean, which has several luxury hotel units in its Cyprus portfolio.
(Source: InBusinessNews)
