More than ten hotels in an advanced state of degradation, totaling over 2,500 rooms, have been sold at relatively low prices in recent months on the seaside, with buyers including names such as Mohammad Murad and Nicolae Bucovala.
The hotels, for which an average of EUR 9,000/room was paid, are to be renovated by next year, and the investments are scheduled to be recovered, on average, in 5 years.
While hotels that look good on the seaside are considered expensive by buyers, with prices per room reaching tens of thousands of euros, investors have turned in recent years toward units in an advanced state of degradation that were either sold by owners or put up for sale by ANAF, on account of budget debts. This happened with five hotels owned by the Micula brothers, three of which were bought by Mohammad Murad: Prahova and Clabucet in Neptun and Craiova in Olimp. The Romanta hotels in Neptun and Slatina in Olimp, also belonging to the Micula brothers, were acquired by two investors who already own hotels at the seaside, one of them owning Bavaria Blu in Mamaia, and the other – Holliday in Olimp. Another major investor on the coast, Nicolae Bucovala, bought the Oltenia hotel in Olimp from Gheorghe Bosanceanu, and the Victoria hotel in Mamaia was bought by a Swiss woman of Romanian origin. A Lebanese investor who manages several hotels in Romania also bought the Anca hotel in Venus.
Source: Profit
Frequently Asked Questions
Who are the main investors purchasing these seaside hotels?
Key buyers include prominent investors such as Mohammad Murad and Nicolae Bucovala, alongside other international and local business figures.
What is the average cost per room for these properties?
The dilapidated hotels were acquired for an average price of approximately EUR 9,000 per room.
What is the expected timeline for renovation and ROI?
Renovations are expected to be completed by next year, with investors aiming to recover their capital within an average of five years.