Warimpex and Vienna International finalize Sky Gate hotel buyout

Newsroom 19/09/2007 | 16:11

According to the company, the expansion and redevelopment of the hotel, which is set to begin immediately, will help improve the current level of performance. In a first step, 50 additional rooms will be created through the conversion of office space, which will be followed by the creation of additional conference space. Currently, the hotel has 108 rooms and six conference rooms. “For us, it is important to maintain the hotel's current positioning […] and to win more international companies as new clients.,” said Rudolf Tucek, CEO of Vienna International Hotelmanagement AG.
Warimpex took over the four-star hotel Golden Tulip Sky Gate in Otopeni from its main shareholder, the Romanian-American Enterprise Fund (RAEF) and from two other minority shareholders. The transaction was estimated at EUR 16 million by market sources. The company initially planned to invest around EUR 30 million in purchasing or developing hotels under the Andel and Angelo brands or in partnership with hotel operators in Romania in 2007, in cities such as Sibiu, Brasov, Cluj, Arad, Timisoara and Iasi.

Magda Purice

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