The company THR Marea Neagră, which manages several hotels on the seaside, has convened shareholders to approve a partial division aimed at transferring a smaller segment of its activity—specifically low-cost accommodation units—to another firm. Three and four-star hotels with high comfort levels will be retained within THR Marea Neagră.
Transilvania Investments, which currently holds 78.8% of the company, will hold 69.7% following the division. The name of the beneficiary company is Hoteluri Restaurant Sud, where the largest shareholder is Transilvania Investments with 90.6%.
THR Marea Neagră has a market capitalization of nearly 200 million RON. In 2023, the shares rose by 68% on transactions totaling 1.7 million RON.
The company announced revenues of 31 million RON in the first half of 2023, a substantial increase compared to the 3.2 million RON in H1 2022, driven by the sale of the Venus complex in Eforie Nord and the leasing of new assets.
Consequently, the company shifted to a net profit of 11.8 million RON, compared to a loss of 15 million RON in the first half of 2022.
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Frequently Asked Questions
What is the purpose of the THR Marea Neagră division?
The division is designed to separate low-cost accommodation units into a new entity, Hoteluri Restaurant Sud, while keeping premium 3 and 4-star assets under THR Marea Neagră.
How has the company’s financial performance changed?
THR Marea Neagră successfully moved from a 15 million RON loss in H1 2022 to an 11.8 million RON profit in H1 2023, aided by strategic asset sales and leases.
Who will control the new entity after the split?
Transilvania Investments will be the majority shareholder of both companies, holding 69.7% of THR Marea Neagră and 90.6% of Hoteluri Restaurant Sud.