Grand Plaza Hotel, the administrator of the first hotel under the Sheraton brand in Romania, bought a building on Magheru Blvd in Bucharest. It’s about a building with a GF + 1 structure, owned by Trustul de Montaj Utilaj Chimic Bucureşti (TMUCB) under insolvency now. The paid price was EUR 1.1 million, plus VAT.
The company also approved the budget of revenues and expenditures for next year: turnover of RON 51.57 million and a net profit of RON 12.72 million, according to data published in the Official Gazette.
In 2014, Grand Plaza Hotel recorded a turnover of over EUR 37 million and a net profit of RON 2.4 million and had 215 employees.
This year, Grand Plaza Hotel has invested EUR 6 million in turning Howard Johnson into a five-star Sheraton hotel.