The Golden Tulip Victoria transaction has been finalized<\/p>\n
The acquisition of Golden Tulip Victoria in Bucharest has been finalized after David Fattal, the owner of the Real Estate & Construction hotel group, had initially withdrawn from the transaction. The consequence was the loss of a \u20ac300,000 deposit.<\/p>\n
In September 2021, the buyer offered a new deposit of \u20ac600,000, reconsidering his decision.<\/p>\n
Yoram Biton will handle the hotel’s management for a period of 15 years, according to the mandate; he is the managing director for Central Europe of the Leonardo hotel chain, which is part of the Fattal group.<\/p>\n
The Golden Tulip hotel was sold by real estate investor Atlas Estates for the sum of \u20ac7.3 million, a figure that includes the ongoing loans that were taken over.<\/p>\n
Golden Tulip is a 4-star hotel with 81 rooms.<\/p>\n
During the pandemic, the hotel was closed in April and May 2020, which led to a 76% decrease in the occupancy rate that year compared to the previous year.<\/p>\n
In 2021, the occupancy rate began to increase, and revenues amounted to \u20ac7.4 million compared to \u20ac6.6 million in 2020.<\/p>\n
Loan repayments used to finance Golden Tulip were suspended until the end of 2021, and the maturity date was extended by 3 months, until September 2026.<\/p>\n
Who acquired the Golden Tulip Victoria hotel?<\/strong><\/p>\n The hotel was acquired by the Fattal Group, owned by David Fattal, after an initial withdrawal from the deal and a subsequent reconsideration in 2021.<\/p>\n What was the final transaction price for the hotel?<\/strong><\/p>\n The hotel was sold by Atlas Estates for \u20ac7.3 million, a sum that includes the assumption of existing loans.<\/p>\n Who will manage the Golden Tulip Victoria hotel?<\/strong><\/p>\n Yoram Biton, Managing Director for Central Europe at Leonardo Hotels (part of the Fattal Group), will manage the hotel for a 15-year term.<\/p>\n","protected":false},"excerpt":{"rendered":" The Golden Tulip Victoria transaction has been finalized The acquisition of Golden Tulip Victoria in Bucharest has been finalized after David Fattal, the owner of the Real Estate & Construction hotel group, had initially withdrawn from the transaction. The consequence was the loss of a \u20ac300,000 deposit. In September 2021, the buyer offered a new…<\/p>\n","protected":false},"author":0,"featured_media":87950,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2852],"tags":[469],"thb-sponsors":[],"class_list":["post-116879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotels-restaurants","tag-golden-tulip"],"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\/116879","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=116879"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/116879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/87950"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=116879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=116879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=116879"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=116879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}