Hotel Rex in Mamaia, an asset owned by the Carmen Palade family through the company Rex Mamaia, is being put up for auction for the third time in a foreclosure case, with the new deadline set for March 5, 2026. The starting price has been fixed at EUR 10.2 million, after previous procedures failed. The foreclosure is based on an enforceable title from a loan agreement concluded in 2024 with a Lion Capital company, secured by the hotel property.
At the first auction, on December 18, 2025, the starting price varied according to sources between EUR 10 million and EUR 10.5 million. The only bidder was the company Rex Hotel 2025, founded by entrepreneurs Ștefan Bogdan Ciungara and Marius-Florin Pavel (owners of Swissôtel Poiana Brașov), Ionuț Nicolescu (Grand Development), and Alexandru Boghiu (former CBRE director). Although they offered EUR 10.5 million, the price was not accepted. Subsequently, at the February 18, 2026 deadline, the price was unusually increased to EUR 13.6 million, and the auction ended without participants. Currently, in addition to the aforementioned consortium, Alexandru Bonea (Delta Studio) and Gheorghe Iaciu (Impact Developer & Contractor) are also reportedly interested in the acquisition, with the latter targeting a price of approximately EUR 7 million.
The property offered for sale includes the hotel building with a built-up area of approximately 14,000 sqm (102 rooms), two storage buildings, a plot of land of approximately 7,000 sqm, and a parking lot. The history of failed transactions includes a contract signed in 2022 with Hagag Development Europe for EUR 13.3 million, canceled in 2024 due to urban planning restrictions for apartment projects. In 2018, George Becali withdrew a EUR 10 million offer due to legal uncertainties. The hotel, inaugurated in 1936 by King Carol II and acquired in 2006 by Dan Adamescu for EUR 10 million, has remained closed since 2011, following a fire and the owners’ legal issues.
Frequently Asked Questions
When is the next auction for Hotel Rex taking place?
The third auction is scheduled for March 5, 2026, with a starting price of EUR 10.2 million.
Who are the investors interested in acquiring the hotel?
Interested parties include the Rex Hotel 2025 consortium, Alexandru Bonea (Delta Studio), and Gheorghe Iaciu (Impact Developer & Contractor).
Why has Hotel Rex been closed since 2011?
The hotel was closed following a fire and the legal and financial problems faced by its owners.