The hotel is controlled through the company Arena Admin SRL, by businessman George Padure, former mayor of Bucharest’s first district and known for the business Gepa Electro Center – one of the first electronics store established after 1990. Arena Admin, currently known as Hotel Proiect, is registered as insolvent at the Trade Registry.
The hotel Best Western Plus Expocenter actually is the former hotel Diplomat. Arena Admin was acquired while under insolvency.
Libra Internet Bank, which expressed interest in recovering its accounts receivable as soon as possible, is the company’s biggest creditor, according to the same source.