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Aro Palace wants to sell Brasov CItadel for EUR 3.5 – 4 mln

Autor: Claudiu.Padurean din 23 iulie 2014, Vizualizari: 675

Aro Palace is currently in negotiations with Brasov Town Hall to sell the Brasov Citadel (Cetatea Brasov) for EUR 3.5 – 4 million. In case the two entities will not reach an agreement then Aro Palace will organize an auction in the fall, according to Mihai Fercala, general director for SIF Transilvania, says Business-Review.eu.

“Brasov Citadel is a historical monument and its technical status is uncertain. Aro Palace would need to invest a lot of money in rehabilitating the walls, approximately 2.5 – 3 million EUR by our calculations. The restaurant that functions in the Citadel would never be able to produce so much profit that the investment could be recovered”, according to Fercala.

In his opinion, Aro Palace’s activities do not allow for money to be obtained from museum tickets, and the only revenue source is the restaurant which was profitable before 1989 and a couple of years after.

“For Aro Palace, this property produces only losses from bills and salaries. Tourist flow dropped dramatically over the years and we are unable to cover the costs any more”, Fercala added.

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