|
EBRD to finance new hotel in Tirana - boost for Albanian tourism industry
A new hotel will be built in Tirana, Albania, following the signing today of a US$ 12 million loan from the European Bank for Reconstruction and Development (EBRD). The new hotel will help to alleviate the capital's acute shortage of hotel accommodations and business facilities.
The three-star Rogner Hotel will be built and managed by the Austrian construction/management company, Rogner GmbH. It will provide 100 standard rooms, 10 junior suites, 20 apartments, and 20 offices and conference facilities.
Mario Sarcinelli, Vice-President of the EBRD, commented: "The Bank is financing an important project for Albanian business and tourist-industry development. It is our second investment in the much needed hotel sector in Tirana and the first business-hotel of its kind to be built in the city. These hotels enable countries such as Albania to meet the needs of an expanding business community and to promote economic development through foreign investment."
Rogner is a private Austrian construction group which has also expanded its activities into hotel management through its Rogner International subsidiary. Rogner, a full-service company covering all areas of the construction industry, including the construction of office buildings, apartment blocks and holiday resorts, will be the main shareholder in Golden Eagle (72%), a special purpose company created to build and manage the hotel. The EBRD will also take an equity subscription of US$ 2.5 million (28%) in the company.
The total cost of the project is US$ 21 million.
|
