Israeli investor cuts the price for hotel in northern Bucharest

The Israeli owner of Best Western Plus Briston hotel in northern Bucharest cut the price asked for the property to EUR 4.9 million, citing lack of activity amid the coronavirus outbreak, Profit.ro reported.

Initially, Lev Shumel was asking EUR 5.9 mln for the hotel.

Alternatively, the owner expects to rent the hotel to a third party for EUR 30,000 per month.

"The hotel is currently closed because it is a transit one [close to the Bucharest Airport], and we have lost our customers during this period. We don't have the indoor restaurant open, so what else can we do, bring the 50-60 employees for two customers in the outdoor restaurant?" commented the owner's representative Liliana Chiracu.

She said the hotel was going very well before the pandemic. She explained that the hotel used to have contracts with airlines and companies that organize corporate events, but all these clients have vanished since the COVID-19 outbreak.

The building has four floors and a total usable area of 3,900 sqm. The restaurant has 150 seats, a conference room, and an entertainment room.

(Photo source: Bwplusbristonhotel.com)