Continental Hotels to develop a hotel complex in Arad

Continental Hotels Romanian hotel chain, together with Arad County Council, will develop a hotel complex with over 256 rooms in Arad. The necessary investment is estimated at EUR 1.5 mil.

The hotel complex will be developed on Iuliu Maniu street, near Dolphin Swimming Pool and Sports Arena and will include a 2 star hotel with 112 rooms and a cafe-pastry. It will also include a 3 star hotel with 144 rooms, bar, restaurant and conference halls as well as a hall with a capacity of 700 persons. The two hotels will operate under Hello and Ibis brands and will comprise 448 bed places.

Continental Hotels’ shareholders approved setting up Continental Vest SA company, located in Arad, which has to develop the hotel complex on a plot of land owned by Arad County Council, which represents in kind capital infusion to the new company.

Sursa: Bloom Biz [30.06.2009], Wall-Street [30.06.2009]