Tweet
The European Bank for Reconstruction and Development (EBRD) plans to provide €52.6m (£35.1m) in financing for Croatian hospitality group GS Hotels and Resorts.
GS Hotels and Resorts operates Adriatic Luxury Hotels in Croatia and Wren’s Hotels in England.
EBRD wants to assist in developing high-quality tourism facilities in Croatia by supporting the restructuring and development of GS Hotels and Resorts and similar tourism facilities in Bosnia and Herzegovina and Montenegro.
EBRD plans to make a €25.1m (£16.8m) equity investment in GS Hotels and Resorts and a €27.5m (£18.4m) senior loan to the company's property subsidiaries.
GS Hotels and Resorts >>The roots of Wren's Hotels >>Roman Emperor Diocletian inspires new Starwood hotel in Split >>Former Derby County defender opens hotel in Croatia >>Hyatt and Blackstone to invest in Croatia >>
By Jim Glenn at CEN
E-mail your comments to Chris Druce here.
Get your copy of Caterer and Hotelkeeper every week - click here to subscribe and save 25%.
In this week’s issue, guest edited by Raymond Blanc, we explore the important roles of housekeepers.
Watch here
15 May 2012
11 Apr 2012
22 May 2012
25 May 2012
23 Mar 2009
Best of Chef – now available online View it now
23 Feb 2009
05 Jan 2009
18 May 2012
24 May 2012
21 May 2012