VBL Group has recently completed the acquisition of 100 per cent of the shares of Casa Rooms Ltd, a leading property management company on the island.
VBL Group is the largest private owner of Valletta real estate, with a portfolio that spans the hospitality and commercial sectors, as well as the leasing and selling of property and office space in the capital.
Andrei Imbroll, Chairman of VBL Group, shares the Group’s motive behind its latest acquisition, saying “the short-let accommodation market, over the last decade, has seen an extraordinary growth in market share. Professional and larger operations can ensure higher standards of service for both property owners and guests, whilst achieving elevated economies of scale.”
To this end, Dr Imbroll adds that the acquisition of Casa Rooms Ltd., “one of the largest property managers in Valletta, by VBL Plc, the largest property owner in the city, was a natural next step for the VBL Group.”
“This further consolidates our market leader position in the Capital city and will allow us to hit the ground running as the COVID restrictions continue to ease,” the Chairman adds. “Following the acquisition, we have assimilated Casa Rooms into our existing operation seamlessly. We found a great team of knowledgeable professionals which will add considerable value to the Group.”
On behalf of Casa Rooms, Founder and Board Member, Thomas Cremona, says “When I started Casa Rooms, the short-let market was in its infancy. We grew together with the industry internationally, also thanks to innovative tech companies like Airbnb, which was recently listed on the NASDAQ.”
“I felt that it was time to take Casa Rooms to new heights and VBL Group was the natural port of call to achieve this.”
Perit Piccinino previously served as CEO of Environment and Resources Authority
Ms Arnell has over 10 years of experience in the iGaming industry.
Prime Minister Robert Abela and Tourism Minister Clayton Bartolo were also present at the press conference.