Acquisition of two hotels in Crete of a total capacity of 480 beds

Kelemenis & Co. has continued acting for the hotel company Aquis Hotels & Resorts in a series of acquisitions of hotel complexes. In March 2009 the firm acted for the acquisition of two complexes in Chersonisos, Heracleon, Crete, namely the hotels “Silva Beach” and “Bella Beach” of a capacity of 317 and 163 beds respectively. Kelemenis & Co. undertook the due diligence of the companies which owned the hotels, drafted the SPAs and participated actively in the negotiations, including those for the conclusion of a debenture loan with a Greek bank.