The family of PNL (National Liberal Party) member Radu Ruşanuwill use a 5 million-euro loan to renovate International hotel inSinaia, which has 171 rooms, being the second-largest four-starhotel in the mountain resort.
"We are in negotiations with several banks for this loan. Thehotel was closed on March 1st to start renovation works and willmost likely reopen in September. We will invest in renovating thehotel's facade, in thermal rehabilitation and in improvingcomfort," said an official of the International hotel.
Although he was state-employed, as secretary of state within theFinance Ministry at one point, Ruşanu found the necessary"resources" to purchase several plots of land, as well as assets inthe hospitality sector.
Senator Dan Radu Ruşanu, 61, could not be contacted by ZF by thetime this issue was ready for print. The company held by the Ruşanufamily, International SA (listed on the RASDAQ market), whoseportfolio includes the Sinaia hotel, the Izvorul Rece motel andseveral villas, posted a 7.3 million-lei turnover in 2009 and a 2million-lei profit, and had 49 employees, according to TradeRegistry data. The company's market capitalisation amounts to 33.9million lei, according to data of the Bucharest Stock Exchange.
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