Continental Villa sold for over $500,000
The Continental Villa in Cluj, part of the hotel chain operating under the same name, was bought by GRP Group, a fully Italian-held company especially established for this acquisition. None of the parties cared to reveal the exact price of the deal, though Anca Jucan, GRP Group administrator, said the deal was worth some $500,000 to $1,000,000, which the Continental hotel chain representatives co…
The Continental Villa in Cluj, part of the hotel chain operating under the same name, was bought by GRP Group, a fully Italian-held company especially established for this acquisition. None of the parties cared to reveal the exact price of the deal, though Anca Jucan, GRP Group administrator, said the deal was worth some $500,000 to $1,000,000, which the Continental hotel chain representatives confirmed. The new owners changed the name of the villa to Siesta and are to invest in refurbishing it so that it could regain the fourth star it lost two years ago. “The villa was downgraded to three stars due to the lack of thermopane windows and air conditioning in 2001,” Anca Jucan said. The new name of the villa is actually the name it had until 1991 when Continental bought it. It was built in 1939 and can accommodate 22 people. ZF
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