Businessman Radu Enache, owner of Continental Hotels chain,which operates 14 hotels on the Romanian market, says the value ofhis hotel assets and of his plots is estimated at around 140-150million euros, down 20% on 2008. This is the first time that thebusinessman publicly reveals the value of assets he holds.
"This is the book value of the assets, which was determinedbased on an analysis by authorised assessors made at the end oflast year, this is not the market value," said Enache, whosecompany, Continental Hotels, posted a 19.4 million-euro turnoverlast year.
Another hotel owner, Josef Goschy, with over 3,500 rooms on theRomanian market, through Unita Turism group, said the value ofhotel assets he holds amounts to only 60% of its value of two yearsago, put at 350 million euros. George Copos, owner of seven hotels,said in turn that all his hotels were now worth half as much as in2008. This year the value of transactions involving hotels is downby 60%, to 15.2 million euros, according to Trend Hospitality.
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