March 31 (SeeNews) - Romanian hotels operator THR Marea Neagra [BSE:THR] said on Friday that it signed leasing contracts for nine real estate properties on the Black Sea coast for a total 2.92 million euro ($3.2 million) annually.
The nine properties are located in the Eforie Nord, Eforie Sud and Saturn seaside tourist resorts in the southwestern county of Constanta, THR Marea Neagra said in a report filed with the Bucharest Stock Exchange.
The nine contracts concern tourist complexes and restaurants, with annual rents ranging from 4,000 euro to 1.1 million euro. The Narcis-Cleopatra tourist complex in Saturn tops the list of most expensive rents, followed by the Balada and Bran-Brad-Bega tourist complexes with annual rents of 550,000 euro and 505,000 euro, respectively.
In Janurary 2023, THR Marea Neagra leased three other tourist complexes on the Black Sea for a total 1.51 million euro.
Founded in 2005, Turism, Hoteluri, Restaurante Marea Neagra directly manages eleven hotels on Romania’s seaboard, totalling 5,400 beds.
Romanian investment fund Transilvania Investments Alliance [BSE:TRANSI] holds 78.8% of the company.
TRH Marea Neagra shares last traded on March 29, closing at 0.254 lei, down by 1.17%, bourse data showed.
Transilvania Investments traded flat at 0.288 lei as of 1322 CET on Friday on the Bucharest Stock Exchange.