The acquisition of the five-star landmark hotel, Londa in Limassol, was successfully completed by York Capital Management with Elements Capital Management acting as advisor and investment manager. The hotel currently continues its operations whereas the investor is in the process of conducting a study for the future upgrading of the hotel’s premises.
Londa Hotel was built in 1982 by the owning company Serendipity Ltd, member of the G. Paraskevaides Group, and is located at the coastal front of Limassol. The hotel has been renovated in 2005 by the renowned Italian architects and designers Caruzzo Rancatti of Milan.
“We are very happy for this investment opportunity created by the acquisition of Londa Hotel,” mentioned Mr Andreas Georgallis, Executive Director of Elements Capital Management. Mr Georgallis also added: “our activities in Southeastern Europe, which provide high positive results due to our many years of knowledge and experience in the field of hotels and real-estate, give us great confidence that this investment in Cyprus will be equally successful.”