GRACE HOTELS LAUNCH
In 2007 we created our own boutique hotel brand, Grace Hotels. Our hotels on the islands of Mykonos and Santorini opened to global critical acclaim including numerous industry awards. Grace Hotels is now expanding across the Americas and beyond.
Creation of EuroEnergy, our first investment in the emerging renewable energy market. EuroEnergy's grid-connected solar energy parks in Greece have a capacity of 22 MW. The company is also investing in wind energy farms.
SINGAPORE PROPERTY SOLD
Just three years after our major investment in residential real estate in Singapore we took advantage of the cyclical high point in 2007 and sold the vast majority of the apartments we had acquired.
KOH SAMUI RESORT
Representing our largest single hospitality investment, First Oriental completed the acquisition of prime land in the island resort of Koh Samui, Thailand. When completed this six-star villa-only development combining a lavish hotel with luxury residences for sale will become a flagship complex.
SALE OF AIRCRAFT FLEET
In November 2007 LCI completed the $1 billion sale of its entire fleet of 21 aircraft during a cyclical high point. The company later re-invested in the sector with a significant programme of acquisitions in 2009.