DHH finalises Plaka Hotel sale

D.H. Cyprotels Pcl (DHH) has finalised the deal to sell the Plaka Hotel and the land located around the hotel for a total consideration of CYP 4,466,936 or EUR7,632,213. During 2004 and 2006 the land was sold for the amount of CYP4,05 mln (3,8 mln+250,000)/EUR6,919,836 and lately the hotel for the amount of CYP3 mln/EUR5,125,804. The total profit after the additions (CYP133,073/ EUR227,369) which had been incurred onto the hotel is CYP2,449,991/EUR4,186,058 which was recognized in the audited accounts through revaluations and due to the previous recognized revaluations gave rise to an accounting loss at the last sale.