Bucharest Intercontinental Hotel Valued At EUR70.74M

The Bucharest-based five-star Intercontinental Hotel was valued at EUR70.74 million by real estate consultancy company DTZ Echinox, the hotel’s operator Intercontinental Romania said in its annual report Friday.

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DTZ Echinox said the hotel’s building and equipment are valued at EUR40.74 million, while its land is worth EUR30 million.

The 423-room Intercontinental Hotel is part of the international chain Intercontinental Hotels, which also operates the hotel brand Crown Plaza in Romania.

Intercontinental Romania is majority-owned by Luxembourg-based RHIC Holding, which controls 49.12% in the company. Another shareholder is Romanian Lido SA, which owns an 11.8% stake in the company.

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