NEW YORK Speculation concerning the future of Ryan Hotels is again the subject of much debate as shares exchanged hands between two major shareholders. The Israeli company Red Sea Hotels now controls 23% of the share capital, having acquired a further 6% for Euro 5.2 million from the McEniff brothers. Ryan Hotels, which is valued at Euro 85.3 million, may be the target of a full-scale takeover bid by Red Sea Hotels, which is keen to complement its existing 15 Park Plaza hotels in Europe and eight hotels in the Middle East. Ryan Hotels portfolio includes two hotels in Dublin and four in London, Hamburg, Amsterdam and Brussels, which are thought to be of particular interest to the Red Sea Group. (11/27/00) SOURCE: HVS International
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