No investors for hotels put on sale in Romania

Over 20 hotel units were put on sale from the beginning of the year, valued at EUR 80 mil.

Josef Goschy businessman, who put on sale six hotels, stated that, although he received several offers and negotiated the price for the properties put on sale, transactions were not completed due to lack of funds. According to the businessman statements, no property has been sold.

Alin Burcea businessman, controlling Paralela 45 travel agency, put on sale Stil Hotel in Bucharest for EUR 3.8 mil. Following negotiations with investors, no transaction was concluded. The problem is also related to funds. 

Shareholders of the 4 star hotel NH in Bucharest, put on sale for EUR 16 mil., face the same situation. The potential buyers have not paid, stated the representatives of Imobiliare Expert Group real estate agency, in charge with selling the hotel.

The hotels are facing a low occupancy. In the first quarter, the demand for rooms decreased by 26.4%, although room rates dropped.

Sursa: Ziarul Financiar [19.06.2009]