Elias Neocleous & Co LLC is proud to have advised Mediterranean Hospitality Venture Limited (MHV) on its 100% acquisition of Park Lane Hotels Limited. This most recent purchase enabled MHV to add internationally branded luxury hotel complex ‘Parklane, a Luxury Collection Resort & Spa Limassol’, the only luxury internationally branded resort in Cyprus, to its portfolio of high- end hospitality venues.
MHV, a strategic collaboration in the hospitality sector between Invel Real Estate, PRODEA Investments and the Cypriot-based YODA Group is seeking to expand its activities across the Mediterranean and we are delighted to have been able to use our extensive knowledge of the hospitality industry to assist our client in expanding its investments in the Cyprus market. At Elias Neocleous & Co LLC we have a distinguished pedigree of sitting alongside our clients and helping them to fulfill their acquisition and growth ambitions. As the largest international law firm in Cyprus our experience and knowledge of a wide variety of business sectors, including the highly competitive hospitality market, is second to none.
We are particularly privileged to have acted on behalf of MHV given its commitment to ongoing investment in Cyprus and its faith in the ability of the country to become the home of some of the best luxury resorts in Europe. Commenting on the deal, Invel Founder and Managing Partner and Executive Chairman of PRODEA Investments (strategic partners in MHV), Christophoros Papachristophorou stated: “Parklane, The Landmark Nicosia, and Aphrodite Hills Resort are three unique/flagship assets, which we aim, through additional capex, to further develop and transform into the ultimate hospitality destinations not only of Cyprus but also of southeastern Europe”.