“In September, we’ll have Scavia (jewelry brand) and Vionnet (apparel brand) as new tenants,” Aufhauser told ZF.
On its ground floor, the 5-star hotel, Romania’s second largest hotel unit with 402 rooms, also has as tenants Louis Vuitton, Escada or Dolce&Gabbana.
The hotel includes several restaurants, event halls and a commercial gallery, The Grand Avenue.
Room renovation is in fact part of an older project that started in 2010.
“In the first half of this year, the hotel’s occupancy rate rose by around 2%, while total revenue followed the same trend,” added Aufhauser.
The company’s management will have more flexibility in making decisions starting this year as it will no longer report to two shareholders. In the wake of a complex deal, Austrian group Strabag will become the single stakeholder in the hotel.
“Strabag’s becoming the only shareholder and creditor of SCH Grand will bring more stability for the company and increased flexibility in developing a business strategy,” said Gregor Aufhauser.
(English version by Catalina Apostoiu)