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A Romanian company will start construction works for the first 5 star hotel in Timsioara, Viena Hotel. The unit will be located in Cetate district, on the former place of Cazarma U, initially bought by the Lithuanian company Europa Group and later re-sold due to the crisis for EUR 7 mil. Europa Group purchased the property for EUR 11 mil. Timisoara city hall put on sale Cazarma U a year and a half ago. The amount resulting from transaction would be have been allocated for developing social dwellings and to rehabilitate two historical buildings located downtown, in Cetate area. The investment in Viena Hotel will exceed EUR 10 mil. Hotel’s first floor will have commercial spaces, while one of the top floors will be aimed to luxury offices.
Sursa: Adevarul [07.07.2009], Money [05.07.2009]
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Fivestar Hospitality Consulting 
