Paval Holding and Apex Alliance take over one of Switzerland's largest hotels
Paval Holding, owned by the founders of DIY chain Dedeman, together with the hotel operator Apex Alliance, bought the 5-star hotel complex Waldhaus Flims Wellness Resort, the Swiss municipality Flims announced, quoted by Economica.net. The terms of the deal have not been made public.
The hotel was renovated in 2016 and has 150 rooms. It is one of the largest hotels and SPAs in Switzerland.
This is the second international acquisition of Paval Holding, controlled by the Paval brothers, after last year they bought (also together with Apex Alliance) the Gardone hotel in Italy.
"After careful negotiations and intensive examination of the available offers, a promising solution was found for both the renowned 5-star hotel and the municipality of Flims," the municipality's statement reads.
Flims is a municipality in the Imboden Region in the Swiss canton of Graubünden. It consists of the village of Flims (called Flims Dorf) and the hamlets of Fidaz and Scheia, as well as Flims-Waldhaus, the initial birthplace of tourism in Flims, where most of the hotels were built before and after around 1900.