The hotels are located in the Eforie Nord and Saturn seaside resorts. The annual rental rates range between EUR4,000 and EUR1.1 million (VAT included) and amount to almost RON2.9 million, as per a report sent to the Bucharest Stock Exchange and signed by Mihaela Ichim, Chairperson of the Board of Directors of THR Marea Neagra.
The assets targeted by the lease agreements are as follows:
• Vraja Marii tourism complex in Eforie Nord seaside resort – rental rate of EUR137,500/year plus VAT
• Bai Reci in Eforie Sud seaside resort – EUR20,550 plus VAT
• Bran-Brad-Bega tourism complex in Eforie Nord seaside resort – rental rate of EUR505,000/year plus VAT (the previous lease agreement, signed in December 2022, was unilaterally denounced by the tenant)
• Balada tourism complex in Saturn seaside resort – rental rate of EUR550,000/year plus VAT
• Cerna tourism complex in Saturn seaside resort – rental rate of EUR416,000/year plus VAT
• Narcis-Cleopatra tourism complex (hotels and restaurants) in Saturn seaside resort – rental rate of EUR1,101,000/year plus TVA
• Semiramis tourism complex in Saturn seaside resort – rental rate of EUR181,000/year plus TVA
• Bufet Narcis in Saturn seaside resort – rental rate of EUR4,000/year plus TVA
• Hora kindergarten in Saturn seaside resort – rental rate of EUR4,000/year plus TVA
THR Marea Neagra is majority held by Transilvania Investments Alliance (TRANSI, formerly known as SIF Transilvania), with a 78.8% ownership stake. EFO shares have gained 25% since the beginning of 2023 and is valued at RON145 million.