BUCHAREST (Romania), July 3 (SeeNews) – Warsaw-listed hotel group Orbis said on Tuesday it has signed an agreement for the purchase of Mercure Bucharest Unirii hotel in Romania for 11.35 million euro ($13.2 million).
Orbis has been managing the hotel in the Romanian capital since late 2017 and will continue the refurbishment in order to complete the modernization plan, it said in a press release.
Located in central Bucharest, the hotel offers almost 100 rooms for both business and leisure guests, a bar and restaurant and can welcome midscale meetings, incentives, conferences and exhibitions.
"As announced earlier, Romania is an attractive market with strong potential and this investment is offering long-term value and attractive investment yield," Orbis management board president and CEO, Gilles Clavie, said.
In April, Orbis opened its first ibis Styles hotel in Romania, in the western city of Arad.
The Orbis Hotel Group is the largest network of hotels in Poland and in Eastern Europe. Orbis comprises 127 hotels and is the sole licensor of all AccorHotels brands in 16 countries: Bosnia, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia.
The hotels operate under the brand names Sofitel, MGallery by Sofitel, Pullman, Novotel, Mercure, adagio, ibis, ibis Styles and ibis budget.
($=0.8573 euro)