Carabulea branches out to hotel business

Atlantic Travels, a part of the Atlassib holding, is conducting an investment worth 20 million euros in a four-star plus hotel in Sibiu, a hotel which will be opened under the Romada brand in April 2007, businessman Ilie Carabulea, majority shareholder of Atlassib told ZF. The Atlassib holding carries out activities in fields such as domestic and international transport, trade, insurance and leasing. Carabulea controls Banca Carpatica, whose stock market value reaches 186.3 million euros. The investment in the four-star hotel, Carabulea says, will be both self-funded and paid for with loans from banks. “We are not even considering an occupancy rate of less than 70% in the first year,” Carabulea added. He relies on the big development potential of the hotel business in the following period. ZF