You are here

CDL Hospitality Trusts acquires 95% stake in Italy hotel for 40.6m euros

Initial funding will be via internal resources or offshore debt, or a mix of both

BT_20181117_RMCDL17_3620467.jpg
Hotel Cerretani Florence, MGallery by Sofitel is a four-star hotel with 86 rooms. The freehold property is located in Florence's city centre.

Singapore

CDL Hospitality Trusts (CDLHT) is acquiring a 95 per cent stake in Hotel Cerretani Florence, MGallery by Sofitel for 40.6 million euros (S$63.6 million), its managers announced on Friday.

The purchase consideration works out to 33 million euros, after taking into account

sentifi.com

Market voices on: