New Ramada Plaza hotel opens in south-western Romania after EUR 14 mln investment

Hotel chain Ramada opened on November 25 the only Ramada Plaza property outside Bucharest, located in Craiova, south-western Romania. The new hotel features 162 4-star rooms and suites, an events and conventions center with a capacity of 550 people, a SPA & Wellness center, and a full-service restaurant with international cuisine. Another gastronomic restaurant is to be opened in early 2016. Local company Jiul SA, which is controlled by former transport minister Radu Berceanu, has invested EUR 14 million in the reconstruction and full transformation of the former Jiul Hotel to fit the international Ramada Plaza standards. Local lender Garanti Bank granted a EUR 8.3 million loan to Jiul SA for this project. Ramada Plaza Craiova expects a turnover of EUR 2.5 million and an average occupancy rate of over 50% in its first year of activity. “Our objective is to become the leading business address in Craiova, but our vision aims at innovating on the leisure segment as well. With our unique event management services and facilities and our exquisite gastronomy, we are confident that Ramada Plaza will turn out to be the first option in the planning of private celebrations.”, declares Marcello Pauw, General Manager of Ramada Plaza Craiova. With a total of 12 Ramada units in Romania and three more in development, Ramada is one of the largest international networks in the country. Irina Popescu, irina.popescu@romania-insider.com