Hospitality group G3 Group on Thursday announced that G3 Holdings Limited, its holding company, has reached a conditional agreement to purchase Palm Beach Resort lido at Armier Bay, Mellieħa.
The lido, located in the limits of Mellieħa, was formerly known as Armier Lido, and is only a few metres away from the shore, also containing a deck area that overlooks the sea. Aside from its location and views, it also has a restaurant, and regularly hosts various events throughout the year, ranging from fundraising, barbeques, special themed nights, and weddings, among other things.
The promise of sale agreement entered into with Eight Eleven Ltd and its Directors Saviour Sammut, Cynthia Sammut and Claire Sammut, G3 Holdings secured the right to purchase the property and all movables currently situated there. This includes applicable permits and licences, together with the “exclusive right” for G3 Hospitality Limited, the group’s hospitality arm, to manage, operate and use the lido with “immediate effect” and throughout the term of the preliminary agreement.
Through the promise of sale agreement, although as an independent move from the sale of the property and its movables, the parties also agreed to the sale and transfer of all of Eight Eleven’s shares from existing shareholders to G3 Holdings. This is subject to a due diligence exercise being carried out into the company’s affairs and to the satisfaction of other conditions.
The agreement will remain valid until 12th December 2025.
G3 Group added that it will keep the market informed with regards to developments about the situation.
G3 Group is a hospitality management group that runs Mellieħa’s Pergola Hotel & Spa and Solana Hotel & Spa, together with bars, restaurants and wellness centres in the northern part of the island. Its hospitality arm, G3 Hospitality, has been in the industry since 1982, and is now comprised of a new generation of Directors at the helm.
Palm Beach Resort lido / Facebook