Sheraton and Radisson projects in Romania delayed
The SHERATON project in the North Western Romanian city of Cluj Napoca will be postponed for at least one year. The Sheraton is part of the Sigma Towers project developed by business man Arpad Paszkany. Initially the five star hotel was supposed to open mid 2011.
The RADISSON in the Romanian mountain resort of Poiana Brasov which was initially scheduled for 2011 will also be delayed. The five star hotel is part of the Silver Mountain project developed by business man Dan Fisher. According to market sources there is also the possibility that the hotel brand will be changed. Radisson Poiana Brasov was supposed to include the first E’SPA in Romania.
Both project delays come as a result of the current financial crisis and the difficulty of obtaining feasible financing.