International Hotel Investments (IHI) has formally completed the sale of a majority interest in Corinthia Lisbon, concluding a transaction that values the hotel’s real estate and operating business at €150 million.

The deal sees IHI enter into a joint venture with Orion European Real Estate Fund VI, managed by Orion Capital Managers, a firm with an established track record in the European hotel sector. Through this structure, IHI retains a 28 per cent shareholding in the asset, maintaining a strategic foothold in one of its flagship properties.

The newly formed joint venture has raised capital from its shareholders and secured new financing to acquire both the real estate and the hotel’s operating business. Corinthia Hotels Limited, a subsidiary of IHI, has been re-appointed to manage and operate the property under the Corinthia brand on a long-term basis, ensuring continuity in operations and brand positioning.

Following the transaction, IHI reports net proceeds of €90 million. This figure takes into account the company’s €18 million reinvestment into the joint venture, the settlement of existing debt tied to the Lisbon property, and other financial adjustments.

The Board of Directors has outlined plans to allocate the proceeds towards the repayment of additional group loans, the distribution of a dividend to shareholders, and the evaluation of further investment opportunities aimed at expanding IHI’s international footprint and strengthening the Corinthia brand globally.