Invalda sells owned hotel management business

Investment company Invalda sells all shares of owned company Valmeda (100 %). The agreement concerning selling the shares of Valmeda, which operates four-star hotel Holiday Inn Vilnius and economy-class hotel Ecotel Vilnius was signed on Friday.

The investor’s search for the hotel sector of Invalda was announced last February. The transaction is expected to be finished till the end of this January after the buyer, the seller and the third part accomplishes provided contract conditions. The buyer and the sum of the contract are not announced till the transaction closure.

According to Darius Sulnis, the president of Invalda, futher comments will be withholded till the end of transaction.

“The hotel business is indeed  a profitable one for Invalda, but all company’s assets are managed actively and there is always a search for the optimum use of the  recourses. Stepping out of certain businesses gives the opportunity to withdraw  funds and to employ them more effectively”, – D.Sulnis said.

The Holiday Inn Vilnius hotel was constructed and started activity in 2002, while Ecotel Vilnius was acquired in 2004. Both hotels are in attractive Vilnius location, hotels’ occupation reaches 65 percent.

About Invalda
Invalda was established on 1992 and now it is a holding company actively managing its investments. Successful and well known companies represent sectors of priority in Invalda group: real estate (InReal, inRED, Invaldos nekilnojamojo turto fondas, DOMMO Nerija, IBC logistika and others); pharmacy (Sanitas), finance (Finasta, Finasta investiciju valdymas and others), furniture manufacturing (Vilniaus baldai), roads and bridges construction (Kauno tiltai). Invalda’s company group businesses are also expanded abroad to Latvia, Poland, Ukraine, Slovakia.