Cyprus Mail
Company News Cyprus

Elias Neocleous advises MHV in successful Parklane resort deal


Elias Neocleous & Co LLC is proud to have advised Mediterranean Hospitality Venture Limited (MHV) on its 100-per cent acquisition of Park Lane Hotels Limited.

The recent purchase enabled MHV to add internationally-branded luxury hotel complex ‘Parklane, a Luxury Collection Resort & Spa Limassol’ – the only resort of its kind in Cyprus – to its portfolio of high-end hospitality venues.

Representing a strategic hospitality-sector collaboration between Invel Real Estate, PRODEA Investments and Cyprus-based YODA Group, MHV is seeking to widen its activities across the Mediterranean. As such, we were delighted to draw upon our extensive knowledge of the hospitality industry to assist our client in expanding its investments in the Cyprus market.

At Elias Neocleous & Co LLC, we have a distinguished pedigree of sitting alongside our clients and helping them fulfill their acquisition and growth ambitions. As Cyprus’ largest international law firm, our wide range of business sector expertise, including in the highly-competitive hospitality market, is second to none.

We were particularly privileged to have acted on behalf of MHV, given its commitment to ongoing investment in Cyprus, and its faith in the ability of the country to host some of the best luxury resorts in Europe.

“Parklane, The Landmark Nicosia, and Aphrodite Hills Resort are three unique/flagship assets, which we aim, through additional capex, to further develop and transform into the ultimate hospitality destinations – not only of Cyprus, but also of southeastern Europe,” said Invel Founder and Managing Partner and Executive Chairman of PRODEA Investments (strategic partners in MHV), Christophoros Papachristophorou.

For more information about your business growth ambitions, please speak with Costas StamatiouVassilis Psyrras or Christos Kafouris, or your usual contact at Elias Neocleous & Co LLC.

More on this transaction can be viewed via the Cyprus Mail here. Alternatively, the full press release from Invel, PRODEA Investments, and Yoda Group, the partners in MHV, may be viewed here.

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