Lion Capital has increased its holding in the former Intercontinental Hotel

Lion Capital (LION) reported a 40,1 percent stake and total voting rights in Grand Hotel Bucharest (RCHI), the former Intercontinental.

In July 2022, SIF Banat-Crişana, currently Lion Capital, reached a 29,9 percent stake in the Intercontinental Romania Hotel Company (RCHI, meanwhile renamed GRAND HOTEL BUCHAREST).

According to BVB reports, the Nova Group Investments of the Adamescu family, with a 15,7 percent stake, and Mountbay Limited, with 32,9 percent, are also part of RCHI's shareholding.

Three years ago, the hotel representatives announced that the collaboration contract with the international chain Intercontinental would not be extended and declared that the process of renovating the building would begin.