The Adria Palace was built in 1914-18.
Yuli Ofer-owned Central European Estates NV (CEE) (TASE:CNERO.B1) unit Inventech Central Hotels Ltd. (TASE: IVTC) is in talks to sell the Adria Palace hotel, operated under the Le Meridien label, in Budapest, at a value of NIS 300 million. The buyer is a European investment company, whose name was not disclosed, that holds a number of luxury hotels.
The Adria Palace was built in 1914-18. It served as the Budapest police headquarters until 1997, when it was renovated an opened as a Le Meridien hotel in 2000.
Published by Globes [online], Israel business news - www.globes-online.com - on March 28, 2010
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