The Company

The company was registered as a limited liability private company on 22 April 1966 under the name Munro Philips & Co. Ltd. and owned the Hyperion Hotel in St. Paul’s Bay. Ownership of the company changed hands in June 2000 with Alpine Holdings Ltd and Seabank Catering Ltd acquiring the entire issued share capital of the company. The new owners immediately embarked on the demolition of the Hyperion Hotel and constructed a new 4-star hotel, the Grand Hotel Mercure Coralia San Antonio, which received its first guests in October 2001. On 4 February 2002, in preparation for the public bond issue, the company was converted from a private company to a public company and concurrently changed its name to Hotel San Antonio plc. The Board of Directors has delegated operational and management matters to an independent hotel management company Accor Air Malta Company Ltd., a subsidiary of Accor S.A. of France, a European leader and the world’s second largest group in tourism and the hospitality sector.

Use of Proceeds

€4.66 million of the proceeds from the bond issue have been used for paying outstanding amounts due to capital creditors for the reconstruction and completion of the Grand Hotel Mercure Coralia San Antonio. The other €1.16 million have been used to pay back existing long-term banking facilities.

Security & Status

Unsecured & Unsubordinated



Amount Issued





The Bonds will be redeemed at 100% (par) on 31 May 2012.

Capital Reserve Fund

Hotel San Antonio plc shall set up a Capital Reserve Fund to cover the redemption of the bonds on redemption date. For the year ending 31 December 2004, the Company will allocate 50% of available free cash flows from operations to the Capital Reserve Fund in that financial year. Following the 31 December 2004, the Company shall allocate 65% of available free cash flows in each financial year to the Capital Reserve Fund, up to the financial year immediately preceding the redemption date.

Interest Payment

Semi-annually on 30 May and 30 November

XD Dates

16 May and 16 November


Alternative Companies List


Silvio Debono, Tony Zahra, Prof. Edward Scicluna, Arthur Gauci, Lawrence Buttigieg.

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