News Article Aro Palace Brașov Coroana-Postăvaru hotel Elevate Properties hotel Radu Roșca Romania Transilvania Investments
by Property Forum | Hotel

Financial company Transilvania Investments has sold the Coroana-Postăvaru hotel in Brașov for close to €9.4 million as part of its portfolio rebalancing strategy. The sale was carried out in a public offering. 

The seller was Aro Palace, a company owned by Transilvania Investments, while the buyer of the hotel was Elevate Properties. 

"The completion of the sale process of Coroana hotel allows us to focus our resources on the core assets of Aro Palace, with a focus over the next 2 years on the reopening of the completely rebuilt Capitol Hotel under a new brand. This strategic realignment will strengthen our position in the Brașov hotel market and allow us to address the opportunities more agilely,” says Radu Roșca, Executive President of Transilvania Investments. 

At the end of June, Transilvania Investments and the international hospitality group Accor signed a partnership for the reopening of the Brașov-based Capitol hotel. The new hotel will open following a massive transformation process of the building that previously hosted Hotel Capital Brașov. As part of the agreement, the hotel will open as Mercure Brașov Center.