Hotel group Real Estate&Constructii, controlled by David Fattal, has completed the acquisition of Golden Tulip Victoria hotel in Bucharest, according to rhn.ro.
Fattal had initially withdrawn his offer but made a new proposal to Atlas Estate, the hotel’s owner. In the end, the transaction was worth €7.3 million which included ongoing loans.
The 4-star hotel with 81 rooms recorded revenues of €7.4 million during 2021 and has gradually recorded a recovery of the occupancy rate after mandatory pandemic closures in 2020.
Atlas Estate is present on markets in Poland, Hungary, Bulgaria and Romania.
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