Operating a casino is not among the options of the American international investment company Buena Vista Hospitality Group (BVHG) who have shown interest in taking over the Church-owned Ledra Palace hotel in the Nicosia buffer zone, their local associates said yesterday.
In a press release, Andreas Kaisis of the BVHG subsidiary BV-BG Hospitality Group, Cyprus, commenting on press reports, stressed that none of the Buena Vista numerous big projects worldwide featured a casino.
According to Kaisis, the first meeting of the BVHG Vice-President with Archbishop Chrysostomos had to do with a large estate of the Archbishopric adjacent to the Kermia hotel in Ayia Napa, which the American company is interested in buying. If BVHG is successful in its acquisition bid, then the Church estate could become part of a big upgraded development in the area.
During the meeting, his Beatitude suggested other cooperation projects with BVHG including the Ledra Palace hotel. As a result, the Buena Vista HG team proceeded to visit and inspect the hotel and the surrounding area. It has prepared a file of drawings, photographs etc which will come under consideration at company headquarters in Orlando, Florida.
The BVHG preliminary proposals regarding the Ledra Palace refer to a joint venture with the Archbishopric, financing of an extensive renovation of the hotel and its operation under American management. The cooperation of the authorities in the upgrading of the area and the highlighting of its important architectural and historical features is an important prerequisite, the release said.
The American Buena Vista Hospitality Group has been active in Cyprus since 2005 when it sought to develop 2,000 acres near Kalavasos into a €300m health, sports and wellness resort. Andreas Kaisis told The Cyprus Daily that work on the project is due to begin at the end of 2014, with its main components scheduled to be completed in 3 years.
The BVHG regional headquarters for the Eastern Mediterranean, the Middle East and the Balkans are based in Cyprus, where the local subsidiary BV-BG Hospitality Group Ltd has been registered.