Cormoran resort in the Danube Delta is put on sale for EUR 6-7 mil.

Cornel Gaina business man, controlling, together with Mihaela Gaina and Lidia Gaina, 57% of the shares of Cormoran resort in Uzlina locality, Tulcea county, stated that he has been trying to sell the property for 3 years, but he could not find any customers. The business man specified that his decision to sell is a result of the fiscal aggression, but also of his age, 56 years old.

The other shareholders of the complex are Bruno de Giraud Dagay, Stefan Romica Popa, Marinela Giusca, Mirica Dumitrescu and Muntenia Financial Investment Company.

Cornel Gaina stated that the selling price resulted from the technical evaluation reaches EUR 6-7 mil. The price is negotiable, especially under the present situation.

The built area of the complex located in Danube Delta reaches 9,000 sq m, while the total area reaches 7.5 ha.

Cormoran complex includes a 3 star hotel, a boarding house and 15 villas cumulating 280 bed places. The complex also comprises conference halls, 2 restaurants, a disco club, 2 tennis courses, lands for horseback riding, 2 pools and playing areas for children.

Cormoran registered 47% occupancy in the first nine months of this year, decreasing compared to the same period last year, when the complex reported occupancy of 65%.

For the current year, the turnover is expected to reach EUR 880,000, declining compared to the EUR 1.7 mil. last year, according to the owners and data on the site of the Ministry of Finance. Cormoran Prod Impex company registered EUR 130,000 loss last year, according to the Ministry of Finance.

Approximately 40,000 tourists visited Danube Delta between May and August this year, by three times less compared to the same period last year. Foreign tourists accounted only for 23% in the total, according to Delta Danube Biosphere Reserve Administration, ARBDD.

Sursa: Ziarul Financiar [19.10.2009]