PREM to invest €27m in Belgian hotel

THE PREM Group — the Dublin-headquartered commercial property management company — has announced a €27 million investment in a new hotel development in Belgium and is promising a number of further investments later in the year.

The new investment — which will be made through the European Hotel Consortium (EHC), a joint venture between PREM and Goodbody Stockbrokers — involves the acquisition and refurbishment of a property in the centre of Brussels, which will be reopened as a four star boutique hotel, trading under the PREM Group’s Leopold Hotels brand.

The new property is due to be operating by July of next year.