The Grand Hotel Gravenbruch in Neu-Isenburg has been transferred to international hotel group Comer Group International, insolvency administrator Joachim Kühne of CMS Hasche Sigle said. The handover took place on Friday, following months of uncertainty over the hotel’s future.
The sale of the former Hilton hotel was complicated by European Union sanctions against Iranian businessman Ali Ansari, one of its previous co-owners. The EU imposed the sanctions on July 30, accusing Ansari of supporting Iran’s government and the Islamic Revolutionary Guard Corps.
German authorities froze the luxury hotel’s funds as a result, leaving Kühne with only limited access to the money. Although he had reached an agreement with the British-based Comer Group in mid-October, the sale could not proceed until authorities gave their approval.
Sources: Handelsblatt.