You have 3 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Latvia's Mogotel assumes management of Slovenian hotel

Author Radomir Ralev
Latvia's Mogotel assumes management of Slovenian hotel Source: Union Hotels

LJUBLJANA (Slovenia), August 5 (SeeNews) - Latvia's Mogotel Hotel Group has assumed the management of The Fuzzy Log hotel in Slovenia's capital Ljubljana, real estate company Equinox [LJE:EQNX], majority-owned by Axor Holding, has said.

All conditions for handing over the hotel to Mogotel were fulfilled and the management was transferred to the Latvian company on August 4, Equinox said in a filing with the Ljubljana Stock Exchange (LJSE) on Thursday.

You can subscribe to our M&A newsletter here

On July 19, Equinox signed an agreement to lease The Fuzzy Log hotel to Mogotel, which will also rent Hotel Central in Ljubljana from IP Central, another subsidiary of Axor, and will operate both hotels under the Ibis Styles brand.

The estimated total value of future rents for both hotels will amount to 12 million euro ($12.3 million), Equinox said last month.

Equinox, established on May 3, 2021, was the first real estate joint-stock company to join the Slovenian equity market. On January 31, 1,793,869 of its shares were listed on the standard market segment of the LJSE.

($ = 0.97731 euro)

Share this story
SeeNews in Brief

View our Newsletters