Reconstruction Capital II investment fund takes control of Fantasy Beach hotel

“The value of this transaction amounts to €8 million,” said Antares Hotels owner, Dumitru Becsenescu. He added that the hotel is worth some €12 million. Becsenescu plans to keep his remaining 37 percent stock in the Fantasy Beach hotel.

As of this June, the four-star complex is to operate under the Golden Tulip franchise. “The process will begin shortly. A management contract has already been signed with Peacock Hotels Management, including the Golden Tulip affiliation option,” said Peacock Hotels President and Golden Tulip representative for Romania and Moldova, Paul Marasoiu.

Fantasy Beach has two hotels, with a total of 305 rooms. It will begin operating year-round after the affiliation, as opposed to current seasonal operations. “We plan to open a conference center there, with a capacity of 500,” Marasoiu said. He added that the investment will amount to €500,000.