Maltese Hotel Due To Change Ownership

Selmun Palace Hotel should be sold by the end of the year following an international advertising campaign to be launched this week, Air Malta said.

The hotel, a subsidiary of Air Malta, was closed down last year after accumulating debts of €13 million. The decision formed part of the national airline’s restructuring plan, which led to the dismissal of some 58 hotel employees.

In collaboration with the government, the airline will step up efforts through the international advertising campaign, Air Malta said in a statement.

“The campaign is aimed to communicate the full potential of this property and inject new vigour in this sale process after previous attempts did not match the airline’s expectations,” Air Malta said.

Prospective bidders will be given the opportunity to acquire the 154-roomed property and a temporary grant of the adjacent 18th century castle.

Air Malta appointed CBRE Hotels – a leading international group that specialises in the hospitality industry and provides sales advisory services – to manage the marketing and sale of the property.