Brainspark PLC (BSP) - Ora Hotel Update
RNS Number : 0404Q
01 November 2012
1 November 2012
("Brainspark" or "the Company")
Brainspark, the AIM quoted international investment company (AIM: BSP), is
pleased to announce that its hotel management subsidiary, ORH SpA ("ORH" or
"ORA Hotels Group") has signed an advisory agreement to improve the
performance of the hotel Vista Palace (www.vistapalacehotel.com), one of the
world's most prestigious hotels located in the French Riviera and overlooking
The owners of the 70 room hotel plan a EUR 80 million investment to
restructure and modernise the hotel over the next three years, to increase
capacity, enhance quality of service and highlight the uniqueness of its
Brainspark considers this strategic alliance an important opportunity to
showcase a business model that provides support for hoteliers with contracts
ranging from hotel management, direct management and web franchising.
In addition to this important strategic alliance, Brainspark is pleased to
announce that two further European hotels have signed up with the Ora Hotel
In Sicily, following the successful management of the Ora Luxury Catania Grand
Hotel Villa Itria, ORH has commenced the direct management of the Hotel Baia
Azzurra (50 rooms) in Taormina. Further, the company will shortly be awarded
the web franchise for the Boscone Suite Hotel in Madesimo which, with its 71
rooms, will increase the presence of Ora Hotels Group in the mountain region
of northern Italy.
Brainspark's strategy for ORH is to be managing over 6,500 rooms around the
world by 2016, via direct management under the Ora Hotel brand, formula
management, web management and franchise.
Alfredo Villa, CEO of Brainspark commented, "These are exciting developments
for Ora Hotels and we expect to cement further similar relationships with
equally prestigious hotels around the world in the near future. Today's
announcement is a clear indictment of the management skills and industry
expertise of the ORH team."
For further information please contact:
+39 02 525 051
Alfredo Villa, CEO
Westhouse Securities (Nominated Adviser and Broker)
+44 (0) 20 7601 6100
+44 (0) 7795 168 157
Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a
dynamic strategy to create a comprehensive portfolio of companies primarily
encompassing the leisure and real estate sectors mainly in Italy but also
other European countries. The Company may be either a passive or active
investor and Brainspark's investment rationale ranges from acquiring minority
positions with strategic influence through to larger controlling positions.
For further information, please visit, www.brainsparkplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
NRAMBBTTMBBJTLT -0- Nov/01/2012 07:00 GMT
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