Hilton sticks Double Tree brand on a four-star hotel in Bucharest

2 sep 2010 Autor: Mirabela Tiron

Hilton chain has affiliated Bucharest City Hotel four-star hotel (the former Tulip Inn), which operates 88 rooms and is controlled by Lebanese-born Raafat Sarieddine, owner of the company that operates Sony Center stores.
This is the second hotel of Bucharest to operate under a Hilton chain brand, besides Athenee Palace Hilton luxury hotel controlled by businessman George Copos.
"Bucharest City Hotel will take over the Double Tree brand in the wake of the signed contract," stated Adela Cristea, development manager with Hilton for Europe, which has affiliated five hotels of Romania.
Until this year, Bucharest City Hotel, with 1.6m-euro turnover and 55,000-euro income in 2009, operated under the franchise of Golden Tulip hotel chain. The four-star hotel, located close to Vitan area, is registered to Vis 7 Import Export company controlled by Lebanese-born Sarieddine Raafat (with 75% of stock).
He also holds, together with another shareholder, New Link company, which operated Sony Center store network, with 9.8m-euro turnover last year and 131,000-euro losses.