Air Malta, in collaboration with the Government of Malta, will next week commence a local and international advertising campaign to sell Selmun Palace Hotel. The campaign is aimed to communicate the full potential of this property and inject new vigour in this sale process after previous attempts did not match the airline’s expectations. The sale is expected to be finilised by the end of this year.
The process will offer prospective bidders a rare opportunity to acquire a very special property having 154 rooms and with a temporary grant of the adjacent 18th century castle. The hotel is strategically located and clear of any brand or management contract.
To manage the marketing and the sale of the property Air Malta has recently appointed CBRE Hotels, a leading international group that specialise in the hospitality industry and provide sales advisory, finance, market research and valuation services.
The nine-month process includes the setup of a virtual data room, advertising in local and foreign newspapers as well as through CBRE Hotels’ extensive network, issuance of a Request for Proposals, short-listing, a due-diligence process and Board of Directors approval.
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