Mufrima Investment acquires North Macedonia's Orka Hotel

UAE-based company Mufrima Investment has acquired North Macedonia's Orka Hotel, operator of the Ibis hotel in Skopje, according to the local media.

The Ibis Hotel, which has seven floors and an attic, comprising 110 rooms. It was opened in 2015, as part of a franchise of the French hotel chain, on a construction plot behind the "Jadran" hotel. The facility was built in parallel with the Marriott - one close to the other. The hotel's revenue last year amounted to EUR 1.75 million, and the profit was about EUR 230,000.

After the transaction was completed, Orka Hotel was renamed to Mufrima Hotel.