Ana Hotels, controlled by businessman George Copos, will launch a series of investments worth €20 million in the Athenee Palace Hilton hotel.
The investment includes a complete renovation of the rooms, which will take place over a 3-year period starting in 2017, as well as the construction of a new hotel wing with approximately 70 rooms behind the current Athenee Palace Hilton, and a 900 sqm conference hall.
Company representatives stated that the investments will be supported by the company’s majority shareholder from funds and dividends resulting from the recent sale of the Pitesti-based electric motor manufacturer Ana IMEP to the Japanese group Nidec.
At the end of May, the Japanese company Nidec Corporation acquired 94.8% of the shares of the electric motor manufacturer Ana IMEP in Pitesti from businessman George Copos.
In 2015, Ana Hotels invested approximately €4 million in the Crowne Plaza hotel in Bucharest and Ana Hotels Sport in Poiana Brasov. Investments continue in 2016 at Crowne Plaza, where a Boutique Spa will be inaugurated at the end of the year, and the conference center will be expanded and renovated at the beginning of next year.
Ana Hotels recorded a turnover of €28.3 million and a net profit of €2.9 million in 2015.
Source: Profit
Frequently Asked Questions
What is the total investment planned for Athenee Palace Hilton?
Ana Hotels is investing €20 million in the complete renovation of rooms and the construction of a new hotel wing.
What does the expansion project include?
The project includes a new wing with approximately 70 rooms and a 900 sqm conference hall located behind the current building.
How is the investment being funded?
The investment is supported by funds and dividends from the sale of the electric motor manufacturer Ana IMEP to the Japanese group Nidec.