RC II buys 63% in Fantasy Beach hotel for 8m euros

Businessman Dumitru Becsenescu has sold 63% of Antares Hotels, the company that manages the Fantasy Beach hotel in Mamaia, to investment fund Reconstruction Capital II (RC II) for eight million euros. This transaction puts the hotel's value at almost 13 million euros. The hotel, which operated under the Spanish brand Riu from 2005 to 2006, based on a management contract, will be affiliated to the Golden Tulip hotel chain. "A management contract has been signed with Peacock Hotels, and we will invest in the hotel in order to enter into a franchise agreement with Golden Tulip," said Dumitru Becsenescu, owner of the Antares group, with operations in fields such as transportation, tourism and constructions. The Fantasy Beach hotel has 305 rooms, and generated turnover worth 1.5 million euros last year.