Cezion Investment, the company operating the 4-star Class Hotel in Bucharest, has filed for insolvency after obtaining an emergency certificate in April, issued by the Government to provide financial support to firms facing difficulties caused by restrictions imposed in the context of the coronavirus pandemic.
This is the first hotel operator to file for insolvency, as the hotel sector has been the hardest hit by the pandemic, alongside restaurant owners. In 2019, Class Hotel recorded a turnover of 4.4 million RON and a loss of 201,143 RON compared to the previous year.
Frequently Asked Questions
Which company operates Class Hotel in Bucharest?Class Hotel is operated by Cezion Investment, which has recently filed for insolvency.
What impact did the pandemic have on the hotel?The hotel sector was severely affected by pandemic restrictions, leading the company to seek insolvency despite receiving government support.
What were the financial figures for Class Hotel before the pandemic?In 2019, the hotel recorded a turnover of 4.4 million RON and a net loss of 201,143 RON.