Romania has consistently been on Hyatt’s development radar for some time now because of several compelling reasons. The country is a key player in both the EU and NATO within the Black Sea region, which inevitably promises an increased influx of both funds and people.
“Romania is a very attractive market that Hyatt has not yet been able to tap into. Opportunities for sizeable hotels in downtown Bucharest are rare and typically marketed through franchise models. Our focus is to develop a mothership, meaning a full-service, upper-upscale hotel under our direct management, serving as the cornerstone for brand-building in the country,” said Takuya Aoyama, VP development at Hyatt.
“This approach will allow us to deeply engage with the local market, develop infrastructure, and tap into the wealth of local talent. We believe this approach is still the recipe for long-term success and we intend to grow through partnerships with strong local businesses, like we do in Bulgaria, which is Hyatt’s largest Eastern European market. We seek to replicate this successful model in Romania.”
The US-based hotel group is part of the international brands without a presence on the Romanian market.
The company’s current portfolio includes 13 exclusive properties in the region, totaling over 3,395 rooms in Bulgaria, Montenegro, Czech Republic, Slovakia, Poland, Serbia, and Ukraine. six more hotels are on Hyatt’s pipeline in the region over the next three years with further expansions in Bulgaria, Estonia, Serbia, Albania, and Croatia, with Romania to follow.
Bulgaria stands out as Hyatt’s largest market in Eastern Europe, with six operating properties and a seventh on the horizon, scheduled to welcome guests in 2024. Hyatt entered the local market with the opening of Hyatt Regency Sofia in 2020 to gain leading market share and position Bulgaria as a core market in the region in only three years.
(English version by Loredana Fratila-Cristescu)