Air Malta tries again to sell Selmun Palace Hotel

Saturday, 12 May 2012, 11:57

 

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Air Malta said on Saturday morning that in collaboration with the Government of Malta will next week embark on a local and international advertising campaign to sell Selmun Palace Hotel. The campaign is aimed to show the full potential of this property and inject new vigour in this sale process after previous attempts did not match the airline’s expectations. The sale is expected to be finilised by the end of this year.

Air Malta said that the process will offer prospective bidders a rare opportunity to acquire a very special property having 154 rooms and with a temporary grant of the adjacent 18th century castle. The hotel is strategically located and clear of any brand or management contract.

To manage the marketing and the sale of the property Air Malta has recently appointed CBRE Hotels, a leading international group that specialise in the hospitality industry and provide sales advisory, finance, market research and valuation services. The nine-month process includes the setup of a virtual data room, advertising in local and foreign newspapers as well as through CBRE Hotels’ extensive network, issuance of a Request for Proposals, short-listing, a due-diligence process and Board of Directors approval.

The Selmun Castle was originally built by the Knights of St John in 1783. Designed by Duminku Cachia in 1619 the castle is often described as the baroque version of Verdala Palace at Buskett Gardens. The castle was an important property of the Monte Di Redenzione, a religious foundation set up in 1607 for the ransom of Christian slaves from Barbary States. The castle houses some of the hotel suites as well as being the venue for weddings and other functions. The palace is a landmark of the village of Selmun and is the largest of all such towers built by the Knights of the Order of St John.

The hotel is set in a protected environment within a three hectare site with magnificent views of St Paul’s Bay and Maltese countryside.

The Selmun area is also set to benefit from a €1.7 million investment by the Mellieħa local council. Recently the council announced that it will be investing this sum into two projects in Selmun handed over to it by the government: a family park and the restoration of historical buildings. The park will spread over five tumoli in the Braġ zone and will also include family and sports facilities. It will be completed in the coming weeks.

The other project involves the conservation and restoration of a number of historical buildings including wartime pill boxes and a complex of farms that will be transformed into an information centre.

 

 

 

 

 

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