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12° Nicosia,
17 July, 2024
 
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Forest Park hotel acquisition joins Cyprus' mountain peaks investment

Highland paradise: Island's peaks spark multimillion-euro interest

Newsroom

Investment interest in the mountainous areas of the island continues to surge, a trend observed in recent years and now highlighted by the revival of the historic Berengaria Hotel in Prodomos of bbf, along with the Guru by DTA company and the multimillion investments by Property Gallery in Platres.

Platres appears to be the focal point of these investments, according to key figures in the region's tourism sector. This is further confirmed by the latest investment move involving the historic Forest Park Hotel in Platres.

Sources indicate that the new owner is the company XM, based in Limassol, operating in the currency exchange sector. The company acquired the hotel for approximately 11.7 million euros. It's worth noting that the hotel was previously leased for 10 years by NNV Mountain Resorts, which had initiated some improvements. However, with the acquisition, it is expected that the new owner will embark on a significant renovation of the facilities.

Beyond Forest Park, investment interest in the area persists. According to information obtained by "Κ", meetings with potential investors are expected in the coming days regarding the sale of another well-known hotel in the mountainous region, with announcements possibly forthcoming in the near future.

TAGS
Cyprus  |  hotels  |  investments  |  economy  |  mountains

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