Aro Palace posts 5m-euro turnover

Brasov-based hotel company Aro Palace, which runs the five-star hotel Aro Palace, posted a turnover worth some 5 million euros and a profit worth 40,000 euros last year, according to data provided by the company to Romania”s Official Gazette. The turnover saw a 0.5% rise against the 2004 results. Company officials could not be contacted by the time of going to press. Aro Palace hotel, owned by the financial investment company SIF Transilvania, could become affiliate to an international hotel chain, according to recent statements made by employees of the company. According to them, the company is in talks with the Intercontinental International and Radisson SAS chains. Company officials did not specify under what brand of the two chains Aro Palace would open, but it could be the luxury brands of the two companies. Both chains are already present on the local market. Intercontinental International is under a management contract with the five-star hotel Crowne Plaza and a franchise contract with Intercontinental, which has the same rating. ZF