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Vista Palace Decision

Tribunal de Commerce chooses Qatari package

Monaco Matin newspaper reports that the Tribunal de Commerce in Nice has chosen a Qatari investment package to turn around the Vista Palace Hotel.

Located on the hill above Monaco and Roquebrune Cap Martin, the five-star hotel was put into receivership in February this year.

Hundreds of candidates tendered investment offers, but the former Emir of Qatar's package of 30.5 million euros and a guarantee to employees beat off all other competitors.

Unusually, the offer was submitted after the deadline, which may provoke an appeal.

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