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Heliopark Group sells 3 hotels located in the regions of Russia

2008-11-13

The hotel company “Heliopark Group” sells some of its assets planning to strike a bargain with IFC (International Finance Corporation) which is going to purchase 25% of shares of the group.

The following three four-star hotels are up for sale to the investors: “Heliopark Old Estate” in Pskov, “Heliopark Emmaus” in Tver region and “Sosnovaya roscha” located not far away from Yalta.

The bargain will be concluded officially by the end of the current year.

According to the calculations of “American Appraisal” the hotel “Old Estate” can be sold for $15 mln, “Emmaus” - $22,5 mln, “Sosnovaya roscha” - $22 mln.

“Heliopark Group” plans to continue to manage these hotels, but all depends on the price the investor will set.

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