Larnaca/Paris. Since last autumn, one company on the German hotel finance landscape in particular has undergone a remarkable change. Until October 31, 2014, it was privately run. Then, Yakir Gabay quietly had his hotel holding company, Primecity Investment, listed on the Paris Stock Exchange. The move meant he immediately acquired a strong capital base from which to drive forward a lightening-quick cash-driven expansion. Over night, the investor had EUR 150 million at his disposal; EUR 100 million from the IPO in October 2014 and a further EUR 50 million from a convertible bond issued in February 2015. Philipp von Bodman, CEO of Primecity Investment Plc, on the new asset profile, the new investment drive and the more comprehensive operator strategy.
