Germany – Horitt Hotel – SABACHWALDEN

(50% ownership)

A hotel located in the Black Forest, on a 1,100 high mountain, overlooking open scenery in the direction of France, and near the main traffic artery connecting northern Germany with Switzerland. The hotel has 200 rooms. The location is renown throughout the world as a popular tourist town, due to its clean air, pure spring water used for health treatments, wine and liqueur industry and vacation sites surrounding the town.