The two-star hotel Triumf, owned by the Rumanian state via the State Patrimony Administration RA-APPS, will be auctioned off for a starting price of EUR 19.6 million, according to Mediafax.

This is EUR 13 million less than in the first sale attempt in 2007, which was blocked in court. The first attempt to sell the hotel in 2007 was blocked after one of the bidders, the group which controls the five-star Athenee Palace Hilton in Bucharest, wad disqualified. The company went to court against the RA-APPS for having disqualified it. The auction was canceled as it needed at least three valid offers.

The hotel is located on the Kiseleff boulevard in Bucharest, on a 15,000 sqm plot. It has 98 rooms and apartments, and a restaurant.

editor@romania-insider.com