Antrefrig puts $8m in two hotels

Antrefrig Group controlled by an Iranian-held company has invested $3 million in a four-star hotel close to the Baneasa Airport and is considering the construction of a second one in which it is to invest $5 million. The first hotel dedicated a month ago is called Persepolis, a reminder of an Iranian city and former capital of the ancient Persia, and has 20 rooms, which makes it the smallest four-star hotel in Bucharest. The companies in the Antrefrig Group specialise in production, import and sale of foodstuffs with pork patés as the best-known products. The decision to invest in tourism was strategic, group representatives say. “The foodstuffs market is a very crowded place to be, competition is intense and we felt it was time we broadened our operations. We conducted a feasibility study first, which confirmed demand for hotel services in Bucharest was high and going up, particularly on the business segment,” Hadi Nejati, Antrefrig deputy chairman said. ZF