IFC acquires Global Hotels stake and plans investment

The total investment will amount to $3.6 million in increased capital and $7.2 million in long term investment loans. Global Hotels was created by the Global Group of Companies Ltd., Polish Enterprise Fund (PFP) and several private investors. Global Hotels' aim is to build 20 Holiday Inn hotels in Poland. In December it opened the first Holiday Inn in Gdansk. The planned IFC investments will cover the first stage of the Global Hotels plan for which the total estimated cost is $43 million. (Prawo i Gospodarka, page 3)