Club Med makes Sardinia play
04 September 2001 by Sara Guild
Club Méditerranée, the French package holiday company, has made a bid to buy La Marmorata hotel in Santa Teresa di Gallura, Sardinia, in order to avoid eviction. It owns the leasehold but wants to buy the freehold after the owner, Company Sarda Grandi Alberghi, went into compulsory liquidation last week.
Club Méditerranée has owned the leasehold since 1982. Its lease expires on 30 November and it risks eviction if a new owner has alternative plans.
Club Med would not reveal what it has bid, but the guide price is L34b (£11m).
The hotel has 283 apartments and 316 bedrooms. Bids for the hotel must be in by 27 September and the new buyer will be announced in October.
