International Hotel Investments plc - Acquisition of Marina Hotel

Tuesday, February 14th, 2012

On 13 February, International Hotel Investments plc announced that it completed the acquisition of Marina San Gorg Limited which fully owns the 200-room Marina Hotel in St. George’s Bay, St. Julian’s. However, the announcement failed to reveal the total consideration paid for Marina San Gorg Limited which was previously owned by IHI’s majority shareholder, Corinthia Palace Hotel Company Limited.

The Board of IHI explained that this acquisition will provide further possibilities of economies of scale and synergies between the Corinthia St. George’s Bay which it already owns and the adjacent Marina Hotel to meet the challenges of a competitive environment.

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