Clarification and correction: Corinthia-IHI acquisition of Golden Sands

Report of 6 June, 2021 on the IHI financial figures and the sale of Golden Sands Resort Limited

A report on the financial figures for 2020 for IHI plc, the owner and operator of the Corinthia brand of hotels, published in the print edition of MaltaToday on Sunday of 6 June, 2021 carried a factually wrong assertion about the sale of a 50% stake in Golden Sands Resort Limited to IHI plc.

Specifically, the report erroneously referred to that stake as belonging to the Zahra family (the founders of the Island Hotels Group) which had sold its share of Golden Sands to IHI in 2015. The sale referred in the 2020 financial report of IHI, that of Bezemer Limited to IHI for €13 millin, had nothing to do with the Zahra family.

The correct report appears in this online version of the report.

The error is regretted and we extend our sincere apologies to the Zahra family for any inconvenience caused.