Continental goes into leisure

Domestic hotel chain Continental will tap into a new market segment: the leisure tourism, says president, CEO and majority shareholder Radu Enache. “Every hotel in our chain is usually located in a big city and targets business or transit tourists. We want to try a new market now,” Enache says. To that end, the Continental chain bought the Gaiser touristic complex in Timisul de Sus, located 16 km from Brasov and 6km from Predeal. The 23,000 sqm wide complex is comprised of several hotels, villas, tennis courts and other leisure areas that require refurbishment investments, though. Continental bought the complex from Peter Gaiser, who got it back from the Romanian State. The complex was built by his grandfather a few decades ago and then nationalised. Enache did not say how much the deal was worth but specified the refurbishment of the complex would take at least $2 million. ZF