ARENA TOWER HOLIDAY INN AND HOLIDAY INN EXPRESS SOLD

Through one of its subsidiaries, Singapore-based institutional investor First Sponsor Group Ltd has purchased two Holiday Inn-branded hotels in Amsterdam from IVG Institutional Funds GmbH for approximately €55 million. The 120-room Holiday Inn -Arena Towers and the 323-room Holiday Inn Express - Arena Towers are both housed in the Arena Towers building in the city's Zuidoost district.

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