Pullman Hotel in Bucharest to be sold for EUR 20 million

Former Sofitel, Hotel Pullman in Bucharest part of Accor hotelier group will be sold by the owner, World Trade Center Bucuresti company for EUR 20 million, according to sources quoted by Mediafax newswire. The selling is meant to cover part of the debts registered by WTCB that declared insolvency in 2011.

2013-11-26 14:38:16

According to Remus Borza, manager of Euro Insol, the legal administrator of WTCB, the total value of debts registered by the company reaches EUR 90 million, the largest creditors being Fondul Proprietatea, with 85 percent of total debts and the capital city hall. Pullman is ranked at 4 stars, delivers 188 rooms and 15 apartments. By 2009, Pullman operated under the brand Sofitel, part of Accor group. Novotel and Ibis are also two hotels part of the hotelier group.

The WTCB hotelier company announced a net profit of 221.100 Euros in Q3 this year, a 273 percent increase compared with the same period of last year. World Trade Center Bucharest posted a gross profit of EUR 470.000 in Q3, a 54 percent increase y-o-y, as in the same period of last year when the company posted a gross profit of EUR 300.000. The operational profit also increased by 26 percent and reached EUR 717.660, according to a release of the company. WTCB declared insolvent in 2011 and it is managed by Euro Insol. In Q3, the company achieved a turnover of EUR 2.1 million, 15 percent more compared with Q3 of last year, when it posted a turnover of EUR 1.81 million. WTCB runs the four-star hotel Pullman delivering 203 rooms, a conference center of 10 halls, the commercial center Plaza, 11.000 sqm office spaces, 3.500 commercial galleries and 2.000 sqm restaurant spaces.