Millennium & Copthorne Unit Drops $90M On Italian Hotel

Law360, New York (February 24, 2014, 7:13 PM EST) -- A Millennium & Copthorne Hotels PLC unit has agreed to purchase its first hotel in Italy for €65.5 million ($89.9 million), the global hotel developer announced on Monday.

Millennium & Copthorne's subsidiary Millennium Hotels Hotel Palace Holdings SRL agreed to purchase the hotel from Grand Hotel Palace SRL, a joint venture between a Boscolo Group SpA subsidiary and Pierre SRL, which is managed by Boscolo Hotels SpA.

Millennium will acquire the freehold interest in the hotel — which is in Rome currently known as the Boscolo...
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