The family of PNL (National Liberal Party) member Radu Ruşanu will use a 5 million-euro loan to renovate International hotel in Sinaia, which has 171 rooms, being the second-largest four-star hotel in the mountain resort.
"We are in negotiations with several banks for this loan. The hotel was closed on March 1st to start renovation works and will most likely reopen in September. We will invest in renovating the hotel's facade, in thermal rehabilitation and in improving comfort," said an official of the International hotel.
Although he was state-employed, as secretary of state within the Finance Ministry at one point, Ruşanu found the necessary "resources" to purchase several plots of land, as well as assets in the hospitality sector.
Senator Dan Radu Ruşanu, 61, could not be contacted by ZF by the time this issue was ready for print. The company held by the Ruşanu family, International SA (listed on the RASDAQ market), whose portfolio includes the Sinaia hotel, the Izvorul Rece motel and several villas, posted a 7.3 million-lei turnover in 2009 and a 2 million-lei profit, and had 49 employees, according to Trade Registry data. The company's market capitalisation amounts to 33.9 million lei, according to data of the Bucharest Stock Exchange.
The family of PNL (National Liberal Party) member Radu Ruşanu will use a 5 million-euro loan to renovate International hotel in Sinaia, which has 171 rooms, being the second-largest four-star hotel in the mountain resort.
"We are in negotiations with several banks for this loan. The hotel was closed on March 1st to start renovation works and will most likely reopen in September. We will invest in renovating the hotel's facade, in thermal rehabilitation and in improving comfort," said an official of the International hotel.
Although he was state-employed, as secretary of state within the Finance M
