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Novicio Residence,
Romania |
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Phoenix I10
Invest in Arizona Land |
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The biggest hotel in Europe, built in Bucharest, Romania |
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HOME >> NEWS >> The biggest hotel in Europe, built in Bucharest, Romania |
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 Although it’s wanted by international hotel chains and has an estimated market value of over 120 million euros, the hotel is not for sale.
Romania will be proud to have the biggest hotel in Europe starting with May 2008, when 780 out of the total 1.500 rooms of Rin Grand Hotel will be given to use. The location of the building is 8 minutes from the center of the town, in an area where not many hotels can be found. The first 360 rooms of the hotel have been available for rent since October, 200.
The story of this gigantic project began in 2005, when the Negoita brothers planned to built a 1000 room hotel disposed on 11 floors. At that date, it had less rooms than the biggest hotels in the world: Estrel in Berlin (1.125 rooms), Hilton in London (1.052 rooms), Ukraina in Moscow (1.017 rooms). The owners of Rin Grand Hotel decided to bring the number of rooms up to 1.500 making it the biggest hotel in Europe.
The brothers bought the land for 50 euros/ sqm and now it is worth over 1000 euros/sqm.
Source: “Gandul” (Romanian newspaper, the “Property” supplement , issue 03/17/2008) |
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International Corporate Governance
This issue explores how governance attributes are directly related to the substantial variation - across both countries and companies - in ownership, investment and valuation. |
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