The purchase price was not disclosed. However, we already know that it was the largest deal in the hotel market Frankfurt in 2015.
JLL acted as Advisor Kildare European Partners in the transaction for the sale of Le Méridien Parkhotel Frankfurt for 297 rooms German real estate investor Invest Real Estate Art.
The prestigious Le Méridien Parkhotel Frankfurt, which opened in 1905 and extended in 1970, now has 297 rooms of different categories, a restaurant, bar, conference facilities, fitness, Spa area and Parking. The facility is located in immediate proximity from the main train station of Frankfurt and the river main; easy access to business and exhibition centers of the city and the airport. Continue reading
Dubai’s conglomerate Dubai World has sold and Emirati state Fund Investment Corp of Dubai (ICD) has acquired Dubai’s iconic Atlantis the Palm. located on the Crescent of alluvial miracle of the Palm Jumeirah.
The amount of the transaction that was saved for the asset the Dubai conglomerate Dubai World, were not disclosed.
Since 2008 the hotel was owned by a subsidiary of the conglomerate Dubai’s – Istithmar World and Kerzner International company. With the latter he came under the full control of in 2012. It should be noted that the ICD is owned by Emirates airline, one of the main developers Emaar Properties and Emirates NBD Bank. “Our acquisition of The Atlantis The Palm hotel. one of the main tourist attractions of Dubai, fits into our strategy to support long-term development and sustainable growth of Dubai,” said Khalifa al Dabous, Deputy Chairman of the ICD.
A five-star resort Atlantis The Palm is situated on its own 800-metre beach island palm Jumeirah in Dubai. From its Windows offer stunning views of the Arabian Gulf. It features an underwater aquarium, Dolphin swim, as well as a large aquapark. Continue reading
Luxury hotels and resorts under Sunny skies. Designer furniture, expensive restaurants and rich tourists, splashing in the ocean. But all that can change very quickly, becoming a decaying squalor.
War, weather, financial crises and man-made disasters killed many tourist palaces. Here are some of the most famous hotels empty.
Sheraton Rarotonga, cook Islands
It’s an empty building located on the coastal line of the island of Rarotonga, is still shown on Google Maps though she never had visitors.
200 rooms with tiled floors, Jacuzzi, air-conditioning, carpets and luxury furnishings, never opened its doors. Wealth pilfered long ago and the building now hiding the homeless and a local gang. Continue reading