Negoiţă gives up Confort hotel brand and starts selling Rin Grand apartments

The four hotels of Bucharest, Rin Grand Hotel, Confort Traian, Rin Otopeni and Confort Otopeni, with 2,100 rooms overall, controlled by Ionuţ and Robert Negoiţă (a PSD deputy), last year generated 14.1m-euro turnover, down almost 8% from the previous year, according to the company's officials.
"In terms of turnover, during this crisis period, travel has been hurt," stated Ionuţ Negoiţă, 37, who owns Confort group, with travel, real estate and media operations, together with his brother Robert.
The two control Rin Grand hotel of southern Bucharest, Europe's largest (according to owners), with around 1,500 rooms along 15 storeys, and with 1,000 parking places, a 60m-euro investment completed in 2007.
"Turnover generated by Rin Grand hotel last year stood at 9.2m euros, more exactly a decline of around 11% was registered. The hotel operated at an occupancy rate of 36%".
The occupancy rate was reported for 900 rooms, as the rest of rooms will be turned into apartments, with the estimated value of reconversion standing at 2-3m euros.
Moreover, all Rin Hotels hotels are undergoing a rebranding process. The businessman did not explain why the process is necessary, or specify its costs.