The auction held yesterday for the 35% of the shares of the company that owes the five stars hotel Marriott in Bucharest and a receivable of approx. EUR 35 million from the same company was not successful.

Even if the auction started from EUR 12 million, a price 50% down comparing to the previous session of last week, no potential investor showed.

The organizer of the auction id the judicial liquidator VF Insolvenţă SPRL, and the assets on sale belongs to the bankrupt company ONT Carpaţi. The price of the tender book was 5,000 lei and the participation guarantee EUR 2 million. Apart from the share for Marriott, the liquidator also sells the four stars hotel New Montana in Sinaia, with a starting price of EUR 9 million.

The biggest loaner of ONT Carpaţi, and the owner of 93% of the shares is Bank of Cyprus, through the vehicle Gosman Properties. The bank will be the main beneficiary from the assets sale. The former state tourism company, ONT Carpaţi, went bankrupt in December last year.  The company Societatea Companiilor Hoteliere Grand is 65% owned by the Austrian construction company STRABAG, under a JW Marriott licence. (source: