Aro Palace, a company owned by Transilvania Investments, has sold the Coroana-Postavaru Hotel in Brasov for c. €9.4m to Elevate Properties. This sale was part of its portfolio rebalancing strategy. The sale was carried out in a public offering.
"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 Bra?ov hotel market and allow us to address the opportunities more agilely,” said Radu Rosca, Executive President of Transilvania Investments.
