Tatika Investments Limited, a Cyprus-registered company controlled by the Popoviciu family and Radu Dimofte, has taken full control of Grand Plaza Hotel S.A. in Bucharest, the company operating the five-star Sheraton hotel. The transaction was completed through the acquisition of the 25% share package previously held by Tresela Investments Limited, following a decision unanimously adopted by the Extraordinary General Meeting of shareholders at the end of last year.
Following this transaction, Tatika Investments currently owns all 1,748 shares of the company, representing 100% of the share capital, valued at EUR 3.72 million. The General Meeting also approved the update of the articles of association and empowered Daniel Ben-Yehuda, the chairman of the board of directors, to sign the official documents and complete the necessary legal formalities, including the foreign investment declaration.
Grand Plaza Hotel S.A. recorded a turnover of EUR 12.2 million and a net profit of EUR 1.62 million last year, operating with an average of 201 employees. The Sheraton hotel, one of the largest accommodation units in the capital, features 270 rooms and 11 conference rooms.
For the current year, the company has launched a room modernization project involving a total investment of EUR 6 million. Additionally, the hotel operator owns a plot of land adjacent to the Sheraton hotel, where it plans to develop a new five-star property with a capacity of over 100 rooms, with the project currently undergoing approval.
Frequently Asked Questions
Who owns the Sheraton hotel in Bucharest?
Tatika Investments Limited, controlled by the Popoviciu family and Radu Dimofte, now owns 100% of Grand Plaza Hotel S.A., the operator of the Sheraton hotel in Bucharest.
What are the future development plans for the Sheraton Bucharest site?
The operator plans to invest EUR 6 million in room modernization and intends to build a new five-star hotel with over 100 rooms on an adjacent plot of land.
What were Grand Plaza Hotel S.A.’s financial results last year?
The company recorded a turnover of EUR 12.2 million and a net profit of EUR 1.62 million, operating with an average of 201 employees.