Businessman Radu Enache, owner of the Continental hotel chain, is negotiating the acquisition of the Golden Tulip Times hotel in Bucharest for 5 million EUR plus VAT.
According to market sources, the acquisition is expected to be signed within the next few months.
To purchase the hotel, one of the companies owned by Radu Enache is negotiating a 4 million EUR loan with several banks, with the remaining amount to be covered by own funds.
The Golden Tulip Times hotel has 70 rooms and is classified as a 4-star establishment.
Radu Enache did not respond to questions on this matter.
The Continental chain has 13 hotels in Romania, four of which are under the Ibis brand, while the others, ranging from 2 to 5 stars, are under the Continental logo in several cities (with the brands Grand Hotel Continental, Continental Forum, and Hello).
Source: Profit
Frequently Asked Questions
Who is acquiring the Golden Tulip Times hotel?
Radu Enache, the owner of the Continental Hotels chain, is currently in negotiations to acquire the property.
What is the value of the transaction?
The deal is estimated at 5 million EUR plus VAT, financed through a 4 million EUR bank loan and personal funds.
What are the features of the Golden Tulip Times hotel?
The hotel is a 4-star establishment located in Bucharest, featuring 70 rooms.