September, 2000 -- HVS International -- Israeli company Elscint, has announced that its wholly owned subsidiary, BEA Hotels NV, holds a 45% stake in a Dutch company that has recently entered into an agreement to purchase the long-term lease rights of the Sherlock Holmes Hotel in Baker Street, London.
The other major shareholder, with a 45% stake, is a subsidiary of the Red Sea Group of companies. The 125-year lease has been granted following the Dutch company's agreement to pay a total of £10 million and annual lease payments of £450,000. There are plans to renovated the 125-bedroom, three-star hotel into a four-star rating and to operate under the Park Plaza brand name.
Elscint is gradually expanding within London, bringing its total number of bedrooms to 1,200.
The Sherlock Holmes follows the recent opening of the 312-bedroom Shaw Park Plaza and the forthcoming completion of the Victoria and Thames projects.
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