NH Hotel in Bucharest is put on sale for EUR 16 mil.

The 4 star hotel NH, located in Unirii Square area in the Romanian capital, was put on sale for a total consideration of EUR 16 mil., according to Imobiliare Expert Group agency, the company in charge with selling the unit. The company’s representatives stated there is an acquisition intent and that the unit will be sold within a month.

NH hotel was also put on sale two years ago.

The hotel, operated by Cantabria Impex, registered a EUR 2.1 mil. turnover in 2007, EUR 830,000 net profit and total debts of EUR 2.84 mil., according to the data provided by the Ministry of Finance.

According to the Imobiliare Expert Group agency, Cantabria Impex company is controlled by Spanish shareholders. 

NH hotel was reclassified from 3 to 4 stars last year, according to Mediafax news agency and operates businesses of EUR 2 mil. annually.

NH Hotels has currently affiliated two units in Romania, in Bucharest and Timisoara. 

Sursa: Business Standard [27.02.2009], Ziarul Financiar [27.02.2009]