The company’s expenses grew by 30% on the year in January-July 2022.
The hotel was rebranded in 2022 after the management contract whereby the unit was operated by the Intercontinental international chain expired and was not extended by RCHI.
The hotel, located in Bucharest’s University Square, was inaugurated in 1971 and Intercontinental was the first international hotel brand to enter the local market. The five-star hotel in downtown Bucharest has 22 floors, an almost 90-meter height and 257 rooms and apartments.
In July 2022, regional investment fund SIF Banat-Crisana increased its ownership stake in RCHI to 29.9% from 10.6%.