SIF Banat-Crisana considers developing hotel chain

The management of financial investment company SIF Banat-Crisana will start the construction of a four-star hotel in Oradea next year, an investment estimated at some 7-8 million euros. “Ideally we would have wanted to start work as early as this year, but that was not possible. Instead we will start the construction of the Oradea-based hotel next year, which will entail costs of about 7-8 million euros”, says Ioan Cuzman, president of SIF Banat-Crisana. “This is an important step in our development strategy on this segment. We are seriously considering developing a hotel chain given that we have another six hotels in our portfolio,” added Cuzman. Financial investment company Banat-Crisana is also a majority shareholder of six other hotels in Cluj-Napoca, Timisoara, Zalau, Hunedoara and Baia-Mare, the most important locations in the North-Western part of the country.