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Notification of concentration regarding the Hotel Services Agreement- Grand Hyatt Limassol between Anolia Holdings Ltd και Hyatt International (Europe Africa Middle East) LLC.
03/11/2022

The Service of the Commission for the Protection of Competition has received a notification of a concentration by Prosperity Anolia Holdings Ltd και Hyatt International (Europe Africa Middle East) LLC, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014. The notification concerns the Hotel Services Agreement – Grand Hyatt Limassol between Anolia Holdings Ltd και Hyatt International (Europe Africa Middle East) LLC.

Hyatt International (Europe Africa Middle East) LLC is a company duly registered in accordance with the laws of Switzerland and the main purpose of Hyatt International (Europe Africa Middle East) LLC is the management and franchise of the hotels bearing the brand name Hyatt in the regions of Europe, Africa and the Middle East under the Hyatt brand (portfolio of Hyatt brands). In addition, Hyatt International (Europe Africa Middle East) LLC is coordinating with other Hyatt Group companies operating outside the above geographical area, in order to maintain common standard hotels bearing the Hyatt brand.

The Target in this Concentration is the Grand Hyatt Limassol Hotel. This is a 5-star hotel called Grand Hyatt Limassol, on the east coast of Limassol. Anolia, as the owner of this development, entered into a Hotel Services Agreement with Hyatt for its concession in relation to the management of the Hotel to Hyatt. Hyatt will operate the Hotel under the Grand Hyatt Limassol brand in accordance with the international specifications of the Hyatt group of companies related to the specific brand.

Anolia is a company duly registered in accordance with the laws of the Republic of Cyprus and the purposes for which it was incorporated include, inter alia, conducting investment operations and other activities such as building, owning and maintaining in its name or name of other, different types of rights.

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