Famous hotel in downtown Bucharest put up for sale

Turkish group Ener Holding has put up for sale the Ramada-Majestic hotel in downtown Bucharest for over EUR 13 million, Profit.ro reported. The hotel was built in 1911 at the same time with the Odeon Theater on Calea Victoriei. After the Americans bombed the National Theater on Calea Victoriei in the ‘40s, the hotel hosted the theater’s actors and props. It reopened as a hotel in the ‘70s and was used as a setup for filming some famous local movies. This was the first hotel affiliated to the US brand Ramada in the ‘90s. Turkish investors took over the hotel and invested in modernizing and expanding it. The hotel currently has 111 rooms, a pool and two conference rooms. Last year, the hotel had a turnover of over EUR 2.2 million and a net profit of EUR 164,000. First five-star plus hotel in Romania opens near historic Bucharest park Number of tourists in Romanian hotels goes up by 5.7% in first four months (Photo: Ramada Bucharest Majestic Facebook Page) editor@romania-insider.com