International Hotel Investments plc - Acquisition of the remaining 50% stake in Golden Sands

On 26 February 2021, International Hotel Investments plc (IHI) announced that it acquired the remaining 50% in the issued share capital of Golden Sands Resort Limited (GSRL) for a total consideration of €13 million. The current global pandemic has caused significant challenges to companies worldwide, which resulted in an opportunity for IHI to acquire the remaining 50% shareholding, in consequence of which IHI now holds the entire share capital of the company, thus securing the hotel’s long-term future. The Board of IHI considers the full ownership of Golden Sands Resort Limited (GSRL) and its underlying asset as an important strategic decision in consolidating its business interests in Malta. The acquisition will create efficiencies in the existing operations and provide a stronger platform towards further positioning the resort as a major destination in the five-star beach resort segment through its operating subsidiary, Corinthia Hotels Limited (CHL).