Dolce Signs 20-year Management Contracts with Inchydoney
Inchydoney to Manage Dolce Fregate in Provence and Dolce Bad Nauheim in Frankfurt
MONTVALE, NJ, December 18, 2007. Dolce International has signed 20-year management contracts with Inchydoney Partnership to manage two top European properties owned by the Irish private equity fund. As part of this master agreement, Dolce will manage Dolce Fregate, (Provence, France) and Dolce Bad Nauheim (Frankfurt, Germany) until 2028.
Dolce's relationship with Inchydoney Partnership began in 2006 with the Dolce Sitges management contract. These new contracts showcase Dolce's long term strategic positioning in Barcelona and Frankfurt, two of Europe's top meeting and tourist destinations as well the Provence region of France.
According to Dolce International President Steve Giblin, "We are fully committed to building the Dolce brand in Europe and building value in each asset for our owners. Dolce's vast experience in managing conference centers, hotels and resorts combined with Inchydoney's real estate investment experience, make us a winning team for business ventures. We are currently looking at multiple expansion opportunities throughout Europe and we look forward to many more successful management contracts with Inchydoney Partnership."
The operation is part of Inchydoney Partnership's plan to expand into Europe by investing in first class hotels. According to the firm's chairman Seamus O'Mahony: "In this operation the group sees important potential for growth and considers mainland Europe in general, as a strategic market for medium and long term investment." O'Mahony also stated that: "As we are highly satisfied with the teams at the three properties and Dolce's professionalism and enthusiasm, we look forward to working with them in the future."
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