7,000 RON/month for BD members at Phoenicia

Members of the Board of Directors of the Bucharest-based four-star hotel Phoenicia, owned by Triumf Construct and managed by Phoenicia Hotels, collect a monthly salary worth 2,000 euros (the gross sum of 7,000 RON); the same amount goes to Dinel Saizu, chairman of the BD and general manager of Phoenicia. However, Mohammad Murad, the majority shareholder of Triumf Consult and hotel manager, earns 7,000 euros (the gross sum of 25,000 RON). “Mohammad Murat’s pay is higher than that of the other members of the Board of Directors, the chairman included, since he also handles the management of the hotel, so the difference in the value of monthly pay is understandable,” stated Saizu. There have also been changes in Phoenicia’s shareholders, following the implementation of a law, which stipulates that the capital of joint stock companies must be increased to 25,000 euros. According to representatives of the hotel, this was the best opportunity to attract new shareholders and to increase share capital by nearly 23,000 euros.