SIF Hoteluri sells hotel in western Romania for 11 mln euro

The actual transfer of the activity will take place on December 1, SIF Hoteluri said in a statement filed with the Bucharest Stock Exchange, BVB, on Monday.

SIF Hoteluri first announced the intention to sell the hotel back June and as of now the name of the prospective buyer remains undisclosed.

The deal covers the transfer of the DoubleTree by Hilton hotel in Oradea, including its entire hotel, economic and commercial activity, SIF Hoteluri, the company said at the time.

SIF Hoteluri swung to a net profit of 4.59 million lei ($950,566/928,830 euro) in 2021, from a 13.35 million lei net loss in 2020, while its net turnover increased to 16.4 million lei from 8.33 million lei in the previous year.

SIF Hoteluri is owned by Romanian investment fund SIF Banat-Crisana [BSE:SIF1]. The hospitality holding owns EuroHotel Timisoara, Eurohotel Baia Mare, Hotel DoubleTree by Hilton Oradea and Hotel Beta Cluj.

In July, SIF Hoteluri announced it has sold the Rusca Hotel in Hunedoara, central-western Romania, for 1.1 million euro.

SIF Hoteluri shares traded up 7.62% at 2.26 lei as at 0923 CET on Tuesday on the BVB.

SIF Banat-Crisana's shares traded flat at 2.42 lei by 1313 CET on Tuesday.

(1 euro=4.9253 lei)