19th December 2023, Limassol, Cyprus I Ad hoc announcement pursuant to Art. 53 LR
EPH European Property Holdings PLC ("EPH", the "Company") announces the successful signing of the acquisition of 100% of shares in the 5-Star Hotel Trois Couronnes in Switzerland (www.hoteltroiscouronnes.ch). The hotel is situated in an historic property in the city Vevey- being considered one of the "Pearls" on the Swiss Riviera. The parties to the transaction agreed not to disclose the acquisition price to the public. The closing of the transaction is expected for the coming weeks and subject to various closing conditions.
The historic property was originally developed in 1842 on the foundations of a medieval castle and is favorably situated directly on the lake-front with high pedestrian flow, optimal accessibility and great views over the Alps. Vevey's lakeside location with breathtaking views of the Alpine panorama, its extraordinarily mild climate, the vineyards, numerous excursion destinations in the region characterise this town by Lake Geneva.
As of today, the hotel encompasses an area of almost 16,000 square meters with 71 hotel rooms, 2 restaurants, a bar and a SPA area with a swimming pool as well as meeting room facilities. Apart from the acquisition of the historic hotel property, EPH acquired the hotel operations with approx. 70 full time employees. Moreover, it is not only the acquisition of an operative business but the strategic decision to expand the portfolio with a value-add property which is planned to be redeveloped in the coming years.
EPH has confidence in the Swiss Rivera hotel market as well as the success of the development potential situated in the historic property.
EPH EUROPEAN PROPERTY HOLDINGS PLC is an investment company listed on SIX Swiss Exchange and holds a commercial property portfolio with a total value of above EUR 900 million, including real estate assets in Berlin, Hamburg, Stuttgart, Dresden, Switzerland and Vienna.
Additional information on EPH European Property Holdings PLC might be available by contacting Anna Bernhart on Tel: +41 44 503 5414.
Attachment
- 231219 EPH Press Release_Acquisition Trois Couronnes (https://ml-eu.globenewswire.com/Resource/Download/67c79f69-0992-48df-a733-f26c3c15a350)
