Cushman & Wakefield conducted the Hotel Operator Beat Survey in the first half of 2023, which was filled out by more than 26 senior executives representing hotel operators with an existing presence in the CEE (Belarus, Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Moldova, Poland, Romania, Slovakia and Ukraine) region or interest to enter the region, which operate more than 450 hotels with over 72,000 rooms in CEE. The operators also have over 140 proposed hotels comprising more than 22,000 rooms in the pipeline, combined.
The most attractive markets for operators are Budapest, Prague, Warsaw, Cracow and Bucharest.
Besides Bucharest, the operators are also interested in Cluj-Napoca and the Romanian coastline, which shows Romania is attractive beyond the main cities.
”Bucharest’s hotel market is attracting significant attention from international operators aiming to strengthen their foothold or expand their market share. The city’s robust recovery and growing appeal present an exciting opportunity to diversify the product and introduce more affordable luxury hotels, filling a gap that currently exists. Additionally, the Romanian coastline’s low brand penetration attracts operators due to its promising potential and lucrative market,” says Sevda Cadir, Senior Hospitality Consultant CEE & SEE with Cushman & Wakefield.
(English version by Loredana Fratila-Cristescu)