The FEPER company has relaunched the sale process for the Orizont Hotel in Predeal, setting a starting price of EUR 10.5 million, after the previous transaction, agreed at the end of last year with Nawaf Salameh, founder of Alexandrion Group, was not finalized. The failed sale and the recent changes in the hotel’s management are bringing one of the Prahova Valley’s most important assets back to the market’s attention.
FEPER is organizing an auction on November 19 at its headquarters in Bulevardul Dimitrie Pompeiu for the sale of Hotel Orizont, Miorița restaurant and the related land. The previous transaction, agreed for 52 million lei (about EUR 10.22 million), was not finalized due to the non-payment of the remaining balance by the buyer, according to an announcement made by FEPER to the Bucharest Stock Exchange (BVB) in May. Nawaf Salameh, the agreed buyer, died in April this year.
In the context of the annulment of the transaction, FEPER’s management contract with the consulting firm The Makers, owned by entrepreneurs such as Dragos Anastasiu (Eurolines) and Dragos Petrescu (City Grill), also ended in May. The operational management was taken over directly by FEPER, through the director of the Predeal branch, Paul Alexandru-Palaș. In the first semester of this year, the Hotel Orizont recorded revenues of about 7 million lei (about EUR 1.38 million).
The four-star Hotel Orizont, built in 1976, has a capacity of 139 rooms and is complemented by the Miorița restaurant, with a Romanian flavor and 188 seats. FEPER, 85.7% owned by Transilvania Investments Alliance (which also owns ARO Palace), also manages the 166-room Hotel Central in Ploiești.