The latest opening is four-star Cismigiu hotel in central Bucharest, which was inaugurated in December and is held by Spanish real estate developer Hercesa.
The developer turned the formerly dilapidated building into a four-star hotel with 60 suites. Apart from the suites, the hotel also has shops on its ground floor and office spaces on the mezzanine and the first floor.
Hercesa has so far drawn two tenants, the Cervantes Institute, which rented the mezzanine, part of the ground floor and the first floor, as well as the Humanitas group, which opened a bookstore on a 270 sq- m area on the building’s ground floor.
The renovation of the building took three years and cost EUR15 million.
Another hotel that opened this year is Europa Royale in the Unirea area of Bucharest, which was developed by Lithuania’s Europa Group. The 12 million-project was finalized around six years after the purchase of the historic building located near Hanul lui Manuc.
After having reconstructed and modernized the building, the hotel’s owners expect revenues of EUR1.2 billion in its first year of operating.
This is a five-floor building with 92 rooms, a restaurant and two conference rooms.
Another hotel that recently opened in Bucharest is five-star Marshal Garden, located on Bucharest’s central street Calea Dorobantilor. ZF puts the investment at EUR5-6 million.
The hotel is held by the Antonescu family, who also own travel agency Marshal Turism.
(English version by Daniela Stoican)