Businessman Marius Usturoiu has won in court the right to continue operating the Mercur-Minerva hotel in the Mamaia resort, after his contract was terminated last autumn by Sorin Fati, the hotel’s owner, a decision taken in the context of the bankruptcy of the Mareea travel agency, owned by Marius Usturoiu.
The ruling is valid until the final resolution in court of other disputes between the two parties. However, the decision is enforceable, with the possibility of appeal within 5 days of notification.
In April of this year, judges decided that the Mercur-Minerva hotel should remain under the management of Sorin Fati. Previously, Mareea Hotels, owned by Marius Usturoiu, requested the court to issue a presidential ordinance to decide who would manage the hotel in the short term: the owner or the former manager. The court rejected the request, with the right to appeal.
At that time, Sorin Fati stated that he would open the hotel in the second half of May and would most likely operate it in partnership with another person from the tourism industry.
After terminating the contract with Mareea Hotels, the owner tried several options for leasing the hotel, which remained unsuccessful. Additionally, Sorin Fati tried to operate the hotel himself but failed to attract tourists. In parallel, the hotel is under precautionary seizure in a criminal investigation for tax evasion in the name of Sorin Fati.
In September 2015, Sorin Fati decided to sell the hotel in installments to Mareea Hotels, and the pre-contract signed then provided for a sale price of 15 million EUR, to be paid in installments over the next 26 years. The annual installment that Usturoiu was to pay was 500,000 EUR in each of the first 10 years, increasing in subsequent years.
Source: Profit
Frequently Asked Questions
Who is Marius Usturoiu and what is his connection to the Mercur-Minerva hotel?
Marius Usturoiu is a businessman and owner of the Mareea agency, who operated the Mercur-Minerva hotel in Mamaia and signed a pre-contract to purchase it.
Why was the hotel’s operating contract terminated?
The contract was terminated by owner Sorin Fati following the bankruptcy of the Mareea travel agency, owned by Marius Usturoiu.
What are the financial details of the sale agreement between Fati and Usturoiu?
The agreement stipulated a price of 15 million EUR, payable in installments over 26 years, with an annual installment of 500,000 EUR for the first 10 years.