Aro-Palace, a hotel company with a market capitalization of 137 million RON on the Bucharest Stock Exchange (BVB), reports a profit of 1 million RON in H1\/2024, an increase of 25% year-over-year.<\/p>\n
The hotel company Aro-Palace, stock symbol ARO, published its financial statements for the first half of 2024 on the Bucharest Stock Exchange, which included a net profit of 1.06 million RON as of June 30, equivalent to a 25% increase compared to the same period in 2023.<\/p>\n
Simultaneously, the company’s revenues stood at 14.5 million RON, down from 15.1 million RON in H1\/2023.<\/p>\n
In March, Aro-Palace announced the signing of a letter of intent to enter into a franchise agreement with Hyatt Hotel Corporation; thus, following the conclusion of the partnership, the ARO Palace hotel is expected to transition under the Hyatt brand.<\/p>\n
The Aro-Palace company also has the Capitol Hotel in its portfolio, a 180-room hotel equipped with conference facilities and 2 restaurants, which is undergoing a radical restructuring process and will open its doors to guests at the end of 2025 under the Mercure Brasov Centre brand.<\/p>\n
ARO shares have depreciated by 7.89% this year, with the dynamic over the last 12 months reaching minus 11.6%.<\/p>\n
Controlled 85.7% by Transilvania Investments Alliance (TRANSI), followed by Winners First SRL, a company owned by Winners Holdings Investments, with 10.24%, the company is currently valued at 137 million RON.<\/p>\n
Which global hotel brands are entering the Aro-Palace portfolio?<\/strong><\/p>\n Aro-Palace is entering a franchise agreement with Hyatt Hotel Corporation for the ARO Palace hotel and is transforming the Capitol Hotel into Mercure Brasov Centre.<\/p>\n What was the net profit growth for Aro-Palace in H1 2024?<\/strong><\/p>\n Aro-Palace reported a net profit of 1.06 million RON, reflecting a 25% increase compared to the first half of 2023.<\/p>\n When will the new Mercure Brasov Centre open?<\/strong><\/p>\n Following a radical restructuring of the former Capitol Hotel, the Mercure Brasov Centre is scheduled to open its doors to guests at the end of 2025.<\/p>\n","protected":false},"excerpt":{"rendered":" Aro-Palace, a hotel company with a market capitalization of 137 million RON on the Bucharest Stock Exchange (BVB), reports a profit of 1 million RON in H1\/2024, an increase of 25% year-over-year. The hotel company Aro-Palace, stock symbol ARO, published its financial statements for the first half of 2024 on the Bucharest Stock Exchange, which…<\/p>\n","protected":false},"author":0,"featured_media":93263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2852],"tags":[2978,4546,3851,2906],"thb-sponsors":[],"class_list":["post-114647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotels-restaurants","tag-aro-palace-en","tag-profit-en","tag-transi-en","tag-transilvania-investments-alliance-en"],"article_style_override":"on","post-style":"style2","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/hotelieri-2.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/114647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=114647"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/114647\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/93263"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=114647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=114647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=114647"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=114647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}