August 25, 2000 -- HVS International -- MOL Hungarian Oil and Gas Company has announced it is to sell off its non-core activities, including MOL Hotels by the end of the year.
MOL has already disposed of its 25% stake in Hotel Carbona in Heviz, a health resort in Western Hungary. It now plans to dispose of its loss making hotel group which recorded a loss of Euro 415,000 in 1999.
The hotel group's book value was estimated at around Euro 10.7 million in 1999, the two most valuable hotels in the portfolio include the Hotel Aranyhid at Lake Balaton and Castle Hotel in Szirak, close to Budapest.
* * * * * * * * * * * * * * * * * * * * * * * * * * * * *
This release is courtesy of HVS International, a global full-service hospitality consulting company. HVS International's numerous services including market studies & valuations, development consulting, litigation support, asset management,and more. Investment advisory services are available in the UK, Africa, Europe and the Middle East.
To Visit The HVS International Web Site Click Here
To subscribe to HVS Hospitality Enews, a free weekly newsletter, please send contact details to:
enews-europe@hvsinternational.com
This information is protected by international copyright law and may not be reproduced without the express permission of the publisher.
|
Post Release
Get Content
Email News Brief
Saved Articles
Advertising
iPhone
Handheld
XML/RSS
Post News
