Icelandair Group has sold a 75% stake in Icelandair Hotels and related real estate to Berjaya Property Ireland, a subsidiary of Malaysia-based Berjaya Land Berhad. The acquisition included a put and call option on the remaining 25% for three years. Icelandair Hotels, which has an enterprise value of $136 million, operates 20 hotels across Iceland with a total of 1,811 rooms. Icelandair Group CEO Bogi Nils Bogason said, “While we shift the focus of Icelandair Group to our core ...

Subscribe to Access this Entire Article

"Icelandair Group sells 75% of hotel operations to strengthen business" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.