December 21, 2018

Silver Mountain Resort will be operated as a 4-star hotel

Silver Mountain Resort will be operated as a 4-star hotel

The largest transaction for the rental of residential units for hotel purposes to a specialized operator: the residential complex Silver Mountain Resort in Poiana Brasov will be included in the tourist offer as a four-star unit with 132 available apartments, with the potential to add the apartments sold to current and future owners, if they choose to operate their apartment in a hotel regime.

Bookingpedia will be the operator of the apartments and facilities within the resort. In addition to renting 132 apartments in the complex, the multifunctional building will also be rented, including the restaurant, spa and conference rooms. The usable area is about 20,000 sqm.

The rental of the 132 apartments encompassed within the Silver Mountain Resort is an event, as it marks many premieres in the domestic investment landscape:

is the largest rental transaction of hotel residential units to a single corporate client in the last 25 years in Romania;

any potential buyer who wants to buy an apartment in this resort, will be able to buy not only a fine real estate, but also a turnkey business - one can opt to continue the contract with Bookingpedia and rent the apartment in a hotel regime;

the existing owners, and those who will buy an apartment within the Silver Mountain Resort, will be able to benefit from a wide range of hotel services (restaurant, bar, pool access, massage, fitness, valet parking, laundry, etc.). Bookingpedia will fully equip the conference room, spa center, restaurant and kitchen within the complex. Moreover, Bookingpedia will also set up a playground for kids, a professional ski rental center and a shuttle service for clients to the ski slopes in Poiana Brasov. The development of the mixed facilities tailored by Bookingpedia, aims to ensure the resort’s classification at 4*. The Silver Mountain Resort was open to the public on November 1st, 2018.

The transaction was intermediated by EST Hospitality, the consultant chosen by the Romanian Commercial Bank, the owner of the Silver Mountain Resort, the company being represented by Mircea Draghici, Managing Director and Catinca Nicolae, Consultant.

Silver Mountain Resort is located in the most exclusive touristic destination in Romania, Poiana Brasov, 15 km away from Brasov city and less than 180 km from Bucharest. Only 3 km away are located the 12 ski slopes with varying degrees of difficulty.

The resort is built on 2.5 hectares of land and comprises 4 apartment buildings (A, B, G1 and G2) with underground parking and a multifunctional building that hosts the restaurant, club and spa center (indoor swimming pool, heated outdoor swimming pool, jacuzzi, dry and wet sauna, fitness center), providing all the necessary facilities for spending your holidays in the mountains.

The residential buildings offer a variety of apartments, ranging from studios, to apartments with 2 to 6 rooms and a penthouse. The apartments are characterized by a spacious living room and a wonderful view of the mountains and the forest.

The entire property also includes a 23-hectare free field of land that can handle an investment transaction, along with 61 apartments and related parking spaces located in the G2 building, while the A, B and G1 apartments are currently promoted for retail sale.

"With Silver Mountain Resort Poiana Brasov 4* we consolidate our presence in Brasov, while offering a complete hotel product with accommodation and service offers in a top mountain destination. The customers we already have in the other hotels we manage, are looking for new locations in the middle of nature, that are transmitting positive feelings, while having all the facilities at their disposal. At Silver Mountain Resort you are surrounded by nature as far as the eye can see, without feeling choked by other constructions, but feeling free from your everyday stress. We will do our best to create these feelings to our customers" stated Andreea Achitei, Bookingpedia Partner.

"Brasov County is a central point on the map of touristic circuits operated by tourism agencies specialized in incoming tourism, and the opening of Silver Mountain Resort comes to our support. In recent years, Brasov has become increasingly popular as a business and leisure destination, and our agencies are finding it difficult to find accommodations for organized groups. Some of our tourists can even invest in the Silver Mountain Resort's apartments. The location is in the proximity of Brasov, the view is unique and the access is extremely easy" stated Ovidiu Tudor, President of Incoming Romania Association that brings together tour operators specialized in incoming tourism.

"We are glad to have successfully completed this transaction. There is availability from many hotel investors on the market, but any responsible investor questions what will happen to the purchased asset, who will handle it and how it can recover its investment within a reasonable time frame. The existence of a professional hotel operator at Silver Mountain provides answers to all these questions and I am convinced that this product will provide an example of good practice for both other investors, as well as the banking sector," commented Mircea Draghici, Managing Partner EST Hospitality.

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