Businessman Virgil Calina, the owner of the Ramada Nord hotel, has purchased the Golden Tulip Times hotel in Bucharest, taking over the €4.2 million lease from the former administrator. Following the transaction, the company that owned the hotel entered insolvency.
The Golden Tulip Times hotel has 70 rooms and is classified as a 4-star establishment.
„We will renovate all the rooms, the restaurant, and the conference halls; we will change the furniture, the room design, the carpeting, the air conditioning units, and the televisions. The renovation and modernization will be completed in September and will require investments of €1 million. We are pleased that the parking lot under Decebal Boulevard is being built, as this was a major deficiency for the hotel,” stated Virgil Calina.
Additionally, the businessman specified that he will not keep the Golden Tulip franchise and has not yet decided which chain he will affiliate it with.
Following the transaction, the company that owned the hotel entered insolvency. The insolvency petition was filed by a creditor and was recently accepted in court.
Source: Profit
Frequently Asked Questions
Who is the new owner of the Golden Tulip Times hotel?
The new owner is businessman Virgil Calina, who also owns the Ramada Nord hotel in Bucharest.
What are the renovation plans for the hotel?
The hotel will undergo a €1 million renovation covering all rooms, the restaurant, and conference facilities, with completion expected by September.
Will the hotel remain part of the Golden Tulip chain?
No, the new owner has announced that he will not maintain the Golden Tulip franchise and is currently considering other international affiliations.