The four-star hotel will have more than 200 rooms and will be affiliated to the Hilton Garden Inn international brand, ZF has found.
The investment comes at a time when the number of tourists coming to Bucharest is slowly and steadily rising. Bucharest is therefore shaping up as a European capital where an Old Town accommodates many more or less expensive hotels.
The Lithuanian investors are currently working on the restoration of the building in the center of the Old Town, which they bought from Italy’s Mengotti group, the same sources said. The Mengotti group of Italian entrepreneur Adriano Mengotti operates on the luxury fashion market and has a number of multi-brand stores in Europe, one of which on Calea Victoriei in Bucharest.
The officials of the Lithuanian company working on the hotel turned down ZF’s request for comment. The developer is Apex Alliance and the investment stands at more than EUR10 million.
(English version by Loredana Fratila-Cristescu)