Seen on "Thomas Daily", Sept 28, 2007
Provinzial Lebensversicherung AG sells the Crowne Plaza Hotel containing 301 rooms at Rudolfplatz to a group of Spanish investors. According to Kölner Stadt-Anzeiger, the purchase price is €50mn. Also, at the end of 2007, the lease contract concluded with the operator of the Hotel, Intercontinental Hotels Group, will expire. The Spanish investors’ group intends to re-open the Hotel to be operated by another company on January 1st, 2008.