AlbanianEconomy.comYour News from Albania
Mak Albania buys biggest hotel in Saranda
Tirana, April 7 (AENews) – Mak Albania, the Albanian subsidiary of Kharafi Group of Kuwait, is reported to have bought for EUR12 million the only five star hotel in Albania, Hotel Butrinti, in the city of Saranda south of Albania.
The daily Gazeta Shqiptare in Tirana published the new after its previous owner, Gaze Demi, had reported about the sale of the hotel.
The seven-story hotel had seen a EUR4 million reconstruction investment after being purchased about US$ 800,000 back in 1999, according to the newspaper.
Mak Albania office in Tirana has not yet confirmed the news.
Mr. Demi had started direct negotiations with Mak Albania as well as with the giant chain of Hilton Hotels, before signing his contract with the Kuwaiti group.
Mak Albania is recognized as the largest foreign investor in Albania. It operations extend to the sectors of air transport, construction and hotels.
Hotel Butrinti is located in the city of Saranda, in Albania’s southern edge, only a few kilometers from the Greek island of Corfu.
According to Albanian statistics, about 20,000 foreign tourists visit Albania every year through the port of Saranda to visit the ancient city of Butrinti, however almost none of them are reported to stay over to spend the night.
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on Apr 7th, 2006 and filed under Uncategorized.
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