Businessman Radu Enache, who controls Continental hotel chain, with turnover put at 20m euros last year, is in talks with two financial companies for the sale through sale≤ase back of three-star hotels Ibis of Sibiu and Continental of Târgu Mureş to be able to support his investment plans.
"The two hotels have 195 and 120 rooms, respectively. I cannot say how much the two hotels are valued at, the data are confidential. Through the sale of these hotels we will improve our accounting and financial situation," said Radu Enache, who controls 14 hotels on the Romanian market. The Ibis hotel of Sibiu was opened in 2009, in the wake of investments the businessman puts at 9m euros.
Enache says he would like to repurchase the two units in 14 years, with the raised money to be used for investments in the modernisation of some hotels, but also to start new hotel projects.
To raise money, the businessman has sold four hotels through sale≤ase back, worth around 35m euros, over the past four years.
Businessman Radu Enache, who controls Continental hotel chain, with turnover put at 20m euros last year, is in talks with two financial companies for the sale through sale≤ase back of three-star hotels Ibis of Sibiu and Continental of Târgu Mureş to be able to support his investment plans.
"The two hotels have 195 and 120 rooms, respectively. I cannot say how much the two hotels are valued at, the data are confidential. Through the sale of these hotels we will improve our accounting and financial situation," said Radu Enache, who controls 14 hotels on the Romanian market. The Ibis hotel of Sibiu was opened in 2009, in the wake of investments the businessman puts at 9m euros.
Enache says he would like to repurchase the two units in 14 years, with the raised money to be used for investments in the modernisation of some hotels, but also to s
