BEST HOTEL PROPERTIES A.S. Bratislava, December 23, 2015 - Best Hotel Properties a.s. group (BHP), as a result of the decision made by the shareholders at the Extraordinary General Meeting are allowing the sale of the hotels in its portfolio. Hotel Crowne Plaza Bratislava and Grand Hotel Kempinski High Tatras will be sold by BHP group to a hotel fund - NOVA Hotels otevřený podílový fond REDSIDE investiční společnost, a.s. which is administered by REDSIDE investiční společnost, a.s.
This transaction is intended to fulfil the decision of the shareholders on April 2015 about the reduction and repayment of share capital. "Extraordinary General Meeting decided in April 2015 to reduce the share capital of the company. In order to achieve liquidity to pay off the shareholders as a result of the share capital reduction the Board of Directors was commissioned to sell the hotels or shares in the subsidiary companies owning Grand Hotel Kempinski High Tatras, Crowne Plaza Bratislava hotel and Hotel Baltschug Kempinski Moscow." explained Branislav Babík, the Chairman of the BHP Board of Directors. The value of the sale of the Crowne Plaza Bratislava hotel and the Grand Hotel Kempinski High Tatras amounts to EUR 56 million. Negotiations over the sale of the Moscow Baltschug hotel are currently in progress.
As for clients, this decision changes nothing. The hotels will continue to provide their services at the highest level as before. "The Crowne Plaza Bratislava hotel has been managed by BHP since April last year through a franchise agreement and it will continue in this way. In the case of the Grand Hotel Kempinski High Tatras, BHP, due to its many years of experience and great results, will represent the new owner in the hotel management," added Branislav Babík saying that the BHP group will in 2016 also focus on finding new investment opportunities and will continue to search for other hotels, which it could successfully manage.
At present, the Grand Hotel River Park, the Grand Hotel Kempinski High Tatras, the hotel Crowne Plaza in Bratislava, the Moscow hotel Baltschug Kempinski and the restaurant Buddha-Bar in Prague are part of the portfolio of the Best Hotel Properties a.s. group. In 2013, the Hotel InterContinental in Prague was added to the group's portfolio. The Best Hotel Properties a.s. shares are listed on the Bratislava Stock Exchange. Since August the BHP group has also managed the Sheraton hotel in Bratislava.
Best Hotel Properties a.s. issued this content on 2015-12-23 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-30 09:57:18 UTC
Original Document: http://www.besthotelproperties.sk/en/files/TS_Zmeny_BHP_EN_final.pdf
