The construction of the first Sheraton Hotel in Romania postponed

Arpad Paskany businessman postponed the construction of the 5 star hotel Sheraton in Cluj until Spring 2010, due to the delayed financing of the project. The necessary investment is estimated at EUR 50 mil., which will be included in Sigma Towers project.

The project of developing the first Sheraton hotel in Romania is to be completed within 32 months from the beginning of the construction works.

Sheraton Cluj hotel will be located inside Tower 1. The necessary investment for the first tower reaches EUR 135 mil.

Tower 1 will have 27 floors. The hotel will lie on 6 floors, starting from the 8th floor of the building. Below the hotel floors, there will be office spaces on four floors and a parking on another four floors. Above the hotel, there will be 11 floors with 110 luxury apartments, Sheraton brand as well.

The hotel will operate 202 rooms, a conference hall of 1,500 sq m, all day dining restaurant, two themed restaurants, a cafe, a themed bar, another bar located in the hotel’s reception and a spa center.

The partnership between Sigma Towers and the American hotel chain Starwood Hotels & Resorts Worldwide, owner of Sheraton brand, was signed at the end of the last year.

Sursa: Ziarul Financiar [20.07.2009]