“Our partner in the Continental business, private equity firm GED, seeks to sell its 29.9% stake, as the investment has reached maturity.”
GED bought into Continental a second time about eight years ago, after having held a 20% stake between 1997 and 2006.
“We worked very well with GED so we will help them and support them in the sale process. I don’t rule out buying this stake myself, but it is too early to talk about it. One thing’s for certain, I won’t sell.”
Continental has 13 hotels, 12 of which operational, with more than 1,850 rooms. Continental Hotels is one of the largest hotel companies in Romania and posted 125.8 million lei revenue in 2018, according to the latest data available, 6% higher than in the previous year.
(English version by Loredana Fratila-Cristescu)