5m-euro capital increase at Orizont hotel

Orizont Turism, the company that operates the three-star hotel Orizont in the Predeal resort, intends to increase its share capital by 5.2 million euros (18.4 million RON) in order to fund its investment programme for the modernisation of the hotel. The operation is to be submitted for approval at the General Meeting of Shareholders (GM), on October 27. “The money will come from our shareholders and will be earmarked exclusively for investment projects designed to modernise and refurbish the hotel; ultimately, the shareholders will decide how the money will be invested,” Dorel Maria, general manager and chairman of the Board of Directors of Orizont Turism told ZF. Until last year, Orizont Turism also had the Trei Brazi chalet in its portfolio, which is now managed by another company – Trei Brazi. The main shareholder of Orizont Turism is SIF Transilvania, which owns 59.19% of the shares, while the remaining shares are distributed among Quatron International (15.16%), Fathi Taher (11.54%) and other shareholders (14.11%).