By: J.S., STA
Slovenian real estate fund Equinox will transfer management of three hotels in the centre of Ljubljana, among them the iconic Grand Hotel Union, to Spanish group Grupo Hotusa for 20 years with the option of two five-year extensions.
The deal will see the Spanish group manage Grand Hotel Union, Hotel Lev and uHotel, with Exqinox entitled to a minimum rent regardless of how well they do, which translates into more than EUR 100 million in 20 years. The variable part of the rent will depend on revenue growth.