---
title: "Moldova puts landmark Chisinau hotel on auction block "
url: https://radiomoldova.md/p/87552/moldova-puts-landmark-chisinau-hotel-on-auction-block
published: 2026-10-18T08:00:00Z
language: en
author: "Maria Brînca"
section: "Economic"
source: radiomoldova.md
---

# Moldova puts landmark Chisinau hotel on auction block 

> Moldova's Public Property Agency will auction off the state-owned Zarea Hotel in central Chisinau on October 20, setting a starting price of €5.41 million (approx. 106 million MDL).

[Video](https://www.youtube.com/embed/eRFpvNDnUoU)

Moldova's Public Property Agency will auction off the state-owned Zarea Hotel in central Chisinau on October 20, setting a starting price of €5.41 million (approx. 106 million MDL).

![](https://storage.radiomoldova.md/images/80843367-77d1-4063-a2ba-7bc1654daa12.jpg)

The 12-story, 137-room hotel was built during the Soviet era and has operated on a self-financing model without ever receiving a comprehensive overhaul. Primarily accommodating school olympiad participants, athletes, and budget travelers paying around €36 (700 MDL) per night for a junior suite, the property suffers from chronic underinvestment.

**Lagging occupancy and stagnant revenues**

Official data indicates that the property has consistently lagged behind private hospitality benchmarks in the capital.

*“The enterprise recorded its maximum occupancy rate of 38 percent in 2025, while according to Investment Agency data and other public sources, the average occupancy in Chisinau ranges between 70 and 80 percent,”* said Vadim Cortac, head of the privatization department at the Public Property Agency (PPA).

Although customer numbers and revenue ticked upward last year, earnings remained insufficient to finance urgent modernization work. Over its 45-year history—and under PPA administration since 2018—the hotel’s balance sheet has fluctuated sharply. Pandemic curbs caused losses exceeding 1 million MDL in 2021, followed by a modest profit of 326,000 MDL in 2022. In 2023, when the hotel served as a temporary accommodation center for Ukrainian refugees fleeing Russia's invasion, profits fell to just 8,000 MDL, before recovering slightly to 197,000 MDL in 2024 and declining to 29,000 MDL in 2025.

**Broader divestment of underutilized assets**

The upcoming outcry auction includes both the hotel building and its associated land plot, with the government seeking a private buyer committed to extensive refurbishment. Three other state-owned entities will be offered simultaneously: the chemical enterprise "Izomer" and two publishing houses, "Știința" and "Lumina." Together, the four assets are expected to generate at least €6.23 million (approx. 122 million MDL) for the state budget.

*“Right now, other state enterprises are also underway,”* noted PPA Director Ion Dodon. *“An investment tender or another privatization method will likely be launched for the glass factory as well. Unfortunately, there are many structures underutilized by the state. Some erode, others turn into ruins, and this serves no one.”*

Bidders have until October 19 to submit their participation files for the auction.

Translation by **Iurie Tataru**

**RELATED COVERAGE**

* [Moldova extends privatization bids for state assets](https://moldova1.md/p/83206)
* [Moldova extends Zarea Hotel privatization tender to October](https://moldova1.md/p/83139/moldova-extends-zarea-hotel-privatization-tender-to-october)
* [Moldova PM-designate Tofan to sell unused state assets via auctions](https://moldova1.md/p/81323/moldova-pm-designate-tofan-to-sell-unused-state-assets-via-auctions)
* [Moldova auctions 21 state farmland leases for five years](https://moldova1.md/p/84827/moldova-auctions-21-state-farmland-leases-for-five-years)
* [Cameras around former National Hotel will stream directly to Police](https://moldova1.md/p/62325/cameras-around-former-national-hotel-will-stream-directly-to-police)