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Liquidator offers spa hotel in SE Hungary for HUF 400 mln - paper

After failing to sell troubled Thermal Hotel Gara in Füzesgyarmat (SE Hungary) for HUF 650 million last autumn, liquidator Patrik, Varga and Company is offering the spa hotel again, this time for HUF 400 million, business daily Napi Gazdaság said on Thursday.

Offers for the three-star, four-storey, 17,000 sqm hotel are being accepted until July 1.

The hotel's owner, FR Tulipánudvar, went bust after failing to find HUF 675 million in pre-financing linked to more than HUF 250 million in grant money. The company had a loss of HUF 81 million on revenue of HUF 177 million in 2009. Liabilities were close to HUF 1.3 billion at the end of the period.