Firon Bar-Nir has advised Brown Hotels on the EUR 14.5 million sale of a 25% stake in five hotels located in Greece to Tel Aviv-headquartered airline Israir.
The target assets include the Isla Brown, Brown Kubik, My Athens, and Brown Beach Eretria hotels.
According to the firm, the transaction is part of Israir's "expansion of its portfolio and partnership with Brown Hotels, aiming at increasing the number of hotels managed in Greece from 13 to 20 by the end of 2023." The deal was completed for EUR 14.5 million, including the operational management of the five hotels acquired.
The Firon Bar-Nir team was led by Managing Partner Ron Bar-Nir.
The firm did not respond to our inquiry on the matter.