Călin Ile, Chairman of the Board of Aro Palace, a company controlled by Transilvania Investments (formerly SIF Transilvania), states that with the conclusion of the partnership between the company and Accor for the affiliation of the Capitol Hotel under the Mercure brand, future consideration will be given to bringing the Aro Palace Hotel under an international brand.
“We have already begun considering the future of the Aro Palace Hotel; here we have two wings, an old historical one and a new wing, for both of which we are planning medium-term investments and do not exclude the option of affiliation, but for this, we will start a selection process and weigh all the advantages. It is almost certain that for Aro Palace, we will want to keep the name because it is a component too deeply rooted in the history of Brașov and in the hotel history of Romania,” said Călin Ile.
In the coming years, the Aro-Palace company will focus on its two hotels, Aro Palace and Capitol, while the Coroana-Postăvarul hotel was sold for 9 million EUR, although the initial value announced earlier this year was 8.4 million EUR. Călin Ile maintains that the value increased alongside growing interest from investors.
The Chairman of the Board of Aro-Palace says he wants the company to regain its position as the leader of the hotel market in Brașov. For this year, Călin Ile estimates a 40% increase in the company’s revenues, which last year recorded a turnover of 25.8 million lei. The first six months of this year brought an average occupancy rate of approximately 60% for the Aro Palace hotel.
Frequently Asked Questions
What brand will the Capitol Hotel operate under?
Following the partnership between Aro Palace and Accor, the Capitol Hotel will be rebranded and operated under the Mercure brand.
Will the Aro Palace Hotel change its name if it affiliates with an international brand?
Management intends to keep the “Aro Palace” name even if an international affiliation occurs, due to its deep historical roots in Brașov.
What was the final sale price of the Coroana-Postăvarul hotel?
The hotel was sold for 9 million EUR, exceeding the initial valuation of 8.4 million EUR due to high investor interest.