Europa Hotel at the seaside could be put on sale

George Copos business man, owning 7 hotel units in the country, considers to put on sale Europa Hotel, 4 star classified, located in Eforie Nord resort, according to market sources. Copos hasn’t confirmed the news to Ziarul Financiar newspaper.

The unit registered revenues of EUR 420,000 in the first semester of this year, dropping 10% compared to the same period last year.

In July this year, Europa hotel operating 221 rooms, had an occupancy of 64%, 20% below the level of August 2008.

Copos invested approximately EUR 25 mil. to upgrade Europa and Astoria hotels in Eforie Nord, which were taken over by auction in 2001-2002, following the privatization process. At that time, the business man expected to recover its investment in 20 years.

Sursa: Ziarul Financiar [14.10.2009]