“We have allotted a budget of nearly RON25 million, but, considering our huge investment in technology, we shall reach nearly EUR30 million, it is a huge investment. 400 to 500 people worked on the construction site every day”, said George Copos, the owner of Ana Hotels hotel group, which manages the hotel located in downtown Bucharest.
The renovation project consists of two stages. The first stage started in October 2020 and entails the modernization of 132 rooms in a hotel wing built in 1965. The second stage will consist of facade works and the hotel’s old wing, built back in 1914, and is due for completion in October 2021. Investments will be partly covered from own funds and the remainder will be covered from bank loans.
Athenee Palace is part of ANA Hotels group and is one of the city’s architectural symbols.
The building has undergone capital renovations in 1937, 1944 and in 1993.
ANA Hotels is the leading hotel company in Romania with a turnover of RON166 million in 2019, the most recent data available show.