Fund to invest $11.5 million in Holiday Inn hotels

The hotels will be opened by Holiday Inn partner Global Hotels Development Group Poland S.A. According to Dariusz Pronczuk of Enterprise Investors, the company acquired an 80% stake in Global Hotels last week and will invite another financial investor to join the firm soon. Within the next 10 years, Global Hotels plans to build 20 hotels in Poland with the first to open on Dec. 15 in Gdansk. "We are certain about our investment as there are not enough hotels in Poland," said Peter Gee, Global Hotels vice president. Enterprise Investors has invested $80.6 million in Poland and it plans to invest an additional $136.5 million. (Gazeta Wyborcza, page 28, Rzeczpospolita, page 10)