Nona Morelli Unit to Manage Tunisian Hotel
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IRVINE — Nona Morelli’s II Inc. acquired the management rights to the Le Palace Hotel at the Cleopatra Palace Resort in Tunisia.
Irvine-based Nona Morelli’s said it negotiated for the rights after its NuOasis International Inc. unit became a 50% owner of Cleopatra’s World Inc., which operates the hotel. Cleopatra’s World became a NuOasis unit on Oct. 1.
The hotel recorded gross revenue from rooms, food service and conventions of about $500,000 for the first six weeks of operation. Net operating income for the same period was about $50,000.
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