ROMANIA Historic Braşov hotel sold for EUR 9.4 mln

The sales contract was signed on July 14th following a public tender. The Coroana-Postăvaru Hotel, which dates back to 1910 and was extended in 1927, contains 76 guestrooms.

The completion of the sale process of Coroana Hotel allows us to focus our resources on the core assets of Aro Palace, with a focus, over the next two years, on the reopening under a new brand of the completely rebuilt Capitol Hotel. This strategic realignment will strengthen our position in the Braşov hotel market and will allow us to approach more agilely the opportunities it offers.
Radu Roșca, the executive president of Transilvania Investments

Aro Palace announced in June the completion of discussions for the Capitol Hotel, also in Braşov, to reopen under the Mercure brand of French group Accor. The company will now invest more than EUR 11 mln in its refurbishment, which will be carried out in stages until the hotel reopens in 2025. Aro Palace has already started the process for selecting suppliers to provide design, project management and general contracting services for the project. In the same city, Aro Palace will complete the EUR 700,000 renovation of the restaurant on the top floor of Aro Palace Hotel by the end of this year.