Central District Bucuresti – The Crest Collection Hotel will be near the Parliament Palace and construction is expected to begin this fall. The hotel will have 170 rooms and a 360-degree restaurant on the 14th floor.
Ascott Group’s main markets are South-East Asian markets, while it continues to expand to such places as India, Vietnam, Europe and the US. Its owner is CapitaLand Investments, the largest real estate investment company in Singapore and one of the largest in Asia Pacific, with more than $65 billion assets.
Under the management agreement, Ascott will operate The Crest Collection brand for 25 years at first. The investment in the new project is put at EUR22 million.
(English version by Loredana Fratila-Cristescu)