Szallas Group bought a Romanian accommodation agency

By: Trademagazin Date: 2024. 06. 12. 11:43

The Szallas Group, the owner of the Szallas.hu platform, has acquired eighty percent of the ownership of the company that operates the Litoralulromanesc.ro accommodation brokerage site, thus bringing most of the accommodation on the Romanian coast into its portfolio, the company announced to MTI on Tuesday.

According to the announcement, the transaction value of Literarult’s 80 percent stake in Creative Eye SRL is EUR 16.8 million (HUF 6.6 billion) and the net cash available on the closing date. As part of the deal, Wirtualna Polska Holding, the owner of Szallas Group, has also agreed to acquire the remaining 20 percent stake, which may take place in 2025, after the approval of the 2024 financial statements. The purchase value of the 20 percent share is determined in accordance with the sales contract.

Economedia.ro, referring to Litoralulromanesc.ro, wrote: the value of the two-stage transaction is 21 million euros (8.254 billion forints), which is a record in the Romanian tourism industry.