The businessman Sorin Dan has sold City Plaza in a transaction thought to be worth approximately €10m. The new owner’s name has not been revealed, but it has been made public that Dan will retain roughly a 10 percent stake in the hotel. The five-star reported turnover of €2.6m last year, running on an average occupancy rate of 70 percent. Dan is reportedly interested in developing a large residential scheme in the city in Cluj with 2,000 units in an investment that could be worth as much as €40m.
