Cristescu brothers invest 6m euros in hotels

Timisoara-based businessmen Emil and Marius Cristescu, who are shareholders in around 30 companies in Timisoara and in the rest of the country, will invest 6 million euros in tourism this year and will continue investments in the real estate sector. A big part of the sums invested this year comes from the sale of 64% in soda products plant Bega Upsom, for which the Cristescu brothers collected around 16 million euros. Marius Cristescu, however, says he will not sell the shares of any of the companies he holds this year. “This year we are finalising a three-star hotel in Sannicolau and we also want to finalise the Tourist Complex in Orastie, where we invested around two million euros in the first stage,” stated Marius Cristescu. The list of tourism projects of the two businessmen also includes a 3 million-euro investment in rehabilitating the Timisoara hotel, which will be given a four-star rating after the project is completed, compared with the three-star rating it currently has.