A new luxury hotel project is ready in Iasi. The entrepreneur Marius Pătrașcu, wants to build a 5-star hotel affiliated to an international brand on the shores of Ciric Lake.
The investment, estimated at EUR 10-12 million, is to be financed by bank loans and, possibly, European funds. The project, located on a 10,000 sq.m. plot , foresees a Gf+6 or Gf+7 building with 80-100 rooms, restaurant, swimming pool and premium facilities.
The developer has obtained the necessary planning certificate for the PUZ, but administrative procedures are slowing down negotiations with hotel chains. “The documentation alone takes 2-3 years. We have initiated talks with several international brands, including Marriott, but we can’t move forward without clear authorizations,” said Pătrașcu.
There are currently more than 50 active companies in the hotel industry in Iasi. Market leaders are Hotel International (33.6 million RON turnover in 2024), followed by Complexul Hotelier Unirea and Motel Bucium (19 million RON turnover).
The new project could reposition Iasi on the business and luxury tourism map, but the timetable depends on how quickly the authorities finalize the permits.