Hello Hotel Bucharest: sale&lease back

Radu Enache businessman, controlling Continental hotel chain, signed a sale&lease back contract for the 2 star Hello hotel in the capital. The hotel was valued at EUR 17 mil. by two companies.

Radu Enache stated the unit’s value will be amortized within 15 years and the money will be reinvested.

Last year, Enache also concluded a lease&back contract for Ibis Hotel in Constanta.

At the beginning of May, the proposal to sell and buy back in leasing will be submitted for approval to the members of the board. The leasing society to close the deal will be selected after.

Hello Hotel, opened in October 2008 and has 150 rooms. The investment reached approximately EUR 5 mil.

Sursa: Daily Business [02.04.2009], Ziarul Financiar [03.04.2009]