DoubleTree by Hilton Bucharest Hotel has been closed
The DoubleTree by Hilton Bucharest hotel was closed due to the pandemic, rising operating costs, and the war in Ukraine.
The hotel, owned by the Lebanese Sarieddine family, has 88 rooms, a 170 sqm conference room, and is classified at 4 stars.
The former Bucharest City Hotel was one of the 4 hotels operating under the DoubleTree by Hilton brand and the only one in Bucharest, having been affiliated in 2011.
Last month, the sale of the Doubletree by Hilton Oradea hotel was also announced, classified with 4 stars and in the portfolio of the company SIF Hoteluri. Among the reasons that led to the sale of the hotel are the problems generated by the coronavirus pandemic, but also against the background of the acute lack of qualified personnel and the increase in prices for raw materials, goods, utilities, as well as high brand and management costs.
The company operating the hotel has a loan worth 2.5 million EUR at BRD.
In 2020, against the background of the pandemic, the company recorded a turnover of 2.4 million RON, from 13.6 million RON in 2019, and from a net profit of 2.5 million RON it reached losses of 2.1 million RON.
The company has as associates the Lebanese businessmen Raafat Sarieddine, with 45.9%, Lina Zebian, with 34.1%, and Salim Sarieddine, with the remaining 20%.
Frequently Asked Questions
Why did the DoubleTree by Hilton Bucharest hotel close?
The closure was caused by the effects of the pandemic, rising operating costs, and the impact of the war in Ukraine.
Who owns the DoubleTree by Hilton hotel in Bucharest?
The hotel is owned by the Lebanese Sarieddine family (Raafat, Lina, and Salim Sarieddine).
What happened to the hotel’s financial performance?
In 2020, turnover dropped to 2.4 million RON, and the company reported losses of 2.1 million RON due to the health crisis.