Moreover, the operator of the complex posted RON1.7 milion net profit, compared with RON1.3 million in 2017, according to the same source.
Steaua de Mare Hotel part of the complex by the same name held by businessman Nicolae Bucovala, underwent refurbishment (EUR2 million investment) that started in 2016. The complex also includes Delfinul and Meduza, upgraded with a EUR10 million loan from Banca Transilvania. In 2017, the businessman expanded the spa center by adding a new pool at the Steaua de Mare Hotel, replaced the heating boilers and redid the facades of Delfinul and Meduza.
Nicolae Bucovala is one of the hotel operators on the Romanian seaside that bought hotels built during the communist days and invested in renovating them. The entrepreneur bought the Steaua de Mare complex for more than EUR4 million from BCR in 2012, after the bank had foreclosed on the property at the time. (EUR1=RON4.7214)
(English version by Loredana Fratila-Cristescu)