International Hotel Investments plc - Costa Coffee in Spain

On 19 February, Island Hotels Group Holdings plc announced that The Coffee Company Malta Limited, a fully-owned subsidiary of Buttigieg Holdings Limited which in turn is 50% owned by Island Hotels Group, has recently been awarded the right to develop the Costa Coffee brand in Spain (East Coast), the Balearic Islands and the Canary Islands. The agreement, which was concluded after an international tender issued by Costa International Limited, allows the Coffee Company Malta Limited to open and develop 75 Cost Coffee shops in Spain over the next five years.

The Directors explained that the opportunity is in line with the strategy of the Island Hotels Group of continuing to grow the area of its catering business and the first opportunity to expand its operations and expertise into the international market.

The announcement also noted that, through its subsidiaries, Island Hotels Group is also responsible for the Cost Coffee brand in Malta and over the past 18 months it has opened five stores with a further two to be opened later on this year.