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Debrecen’s famous hotel on sale again

Three hotels owned by troubled Civis Hotels have been put on block at a combined price of HUF 3.86 billion, business daily Napi Gazdaság reported. Among them the famous Aranybika (Golden Bull), a landmark in the center of Debrecen, is on sale again, much under its value.

Hungarian hotel chain operator Civis Hotels Zrt was forced into liquidation in June, after it failed to settle with creditors on repayment terms and was unsuccessful in seeking out an investor. The company has liabilities of around HUF 4 billion.

Now the hoteliers’ three establishments are being offered for sale. The Best Western hotel in Debrecen can be had for a net HUF 563 million, the Délibáb in the spa town of Hajdúszoboszló (near Debrecen) for HUF 1.2 billion, while the well-known, almost hundred years old Aranybika in Debrecen is offered for sale on HUF 2.1 billion, bailiff Imre Buga told Napi Gazdaság.

According to earlier news from the time Aranybika was tried to be sold to a Russian private investor, the value of 205-roomed, 14,310 sqm historic hotel is almost twice the price, on which it is to be offered now. Bids are expected to be even lower for all three hotels.

According to the bailiff, investors already showed interest in the two lower priced hotels, but nobody in the city-symbol Aranybika yet. Offers can be made until November 29.

The trouble of Civis Hotels turned out in January, when E.ON has shut down power providing in Aranybika because of its HUF 30 million debt towards the supplier. The case achieved publicity, because the hotel was left in dark during operation and guests had to be accommodated in other city hotels.

Aranybika, as well as the two others on sale, is operating at the moment. (BBJ)