A Greek company, Ethniki Pangaia, has bought the former Holiday Inn Hotel in central Nicosia. The hotel has been closed for a few years and had passed into the hands of the Bank of Cyprus.
In an announcement, the Greek company said it had bought the 140 room hotel close to Eleftheria square from Lasmane Properties. It said would spend €4.5m in renovation work so that it can operate as a luxury hotel.
