Mediterranean Hospitality Venture (MHV) Ltd has agreed to sell 50 per cent of its stake in Aphrodite Hills Resort Limited (AHRL) to WRA Consultants Ltd, a private company registered in Cyprus.

AHRL owns and runs the five-star Aphrodite Hills Resort Hotel in the Paphos district. The deal was completed on January 5, 2024, and now has to receive the approval of the Commission for the Protection Of Competition. A detailed announcement about the deal is expected in the first quarter of 2024 after this approval is secured.

The Nicolaides brothers, Vassilis and Demetris, are directors of WRA Consultants. They are also executive directors of Atlantica Hotels and Resorts, which runs some 40 hotels in Cyprus, Greece and Egypt.