The Israeli network «Fatal» sold 18 of recently purchased 20 hotels in Germany Swedish network Pandox. The transaction amount was estimated at 400 million euros (about 1.7 billion shekels).
According to the radio station «Sieves Beth» by buying these hotels two years ago, «Fatal» paid half a billion shekels less.
We are talking about hotels in Hanover, düsseldorf, Cologne, Karlsruhe, Aachen, Wolfsburg, Heidelberg, Mannheim, Mönchengladbach and Baden-Baden. Under the agreement with the Swedish network «Fatal» got right to the management of the hotels after the sale.
«Fatal» has 35 hotels in Israel, and is currently building the first hotel at the International airport Ben-Gurion, as well as 60 hotels in European countries.
Pandox owns more than a hundred hotels, mainly in Northern Europe.
Deal to be approved by the German government.