Irish Quinn Group Puts Sofia Hilton Up for Sale

Business » PROPERTIES | February 11, 2013, Monday // 12:42| Views: | Comments: 1
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Bulgaria: Irish Quinn Group Puts Sofia Hilton Up for Sale The Hilton Sofia is up for sale. Photo by Hilton Sofia

The Hilton hotel in the Bulgarian capital Sofia has been put up for sale by its present owner Irish company Quinn Group because of debts.

In addition to the Hilton Sofia, Quinn Group is also selling the Sheraton in the Polish city of Krakow, the Bulgarian paper Capital Daily reported Monday.

US company Jones Lang LaSalle is the consultant in Quinn Group's sale of the two hotels.

February 22, 2013, is the deadline for submitting non-binding offers for the Hilton Sofia, while the deadline for binding offers will be at the end of spring, the report said.

No starting price for any of the two hotels has been mentioned but Quinn Group is said to be hoping to cover a EUR 121 M debt from The Bank of New York Mellon to one of its companies.

The consultant has stressed the good location, strong brand, and the recovering hotel services market in Sofia as advantages for the Hilton in the Bulgarian capital.

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Tags: Quinn Group, sofia, Hilton Sofia, Hilton, Krakow, Jones Lang LaSalle
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» To the forumComments (1)
#1
Philippe - 11 Feb 2013 // 16:28:23

More and more foreign investors go away. Mr. Djankov should have know that favourable taxes and strict budget discipline does not work without rule of law. InBev vs Birrata. Clear?

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