1Development concluded the first year of operation for the premium Central Suites project with an average occupancy rate of 60% and a 90% customer return rate. The developer anticipates a consolidation of these indicators during 2026, an evolution supported by the expansion of medical tourism and the “bleisure” phenomenon, as Bucharest is set to record the highest growth in hotel supply in Central and Eastern Europe.
The hotel market in the capital is expected to deliver over 2,400 new rooms by 2026, representing an advance of approximately 5.8%, according to data from Cushman & Wakefield Echinox and Colliers. In this context, aparthotels are becoming increasingly attractive real estate assets, given that Revenue Per Available Room (RevPAR) in Bucharest reached the €78-82 threshold, marking an 11-12% increase that exceeds the inflation rate. The Central Suites project, located in the Ștefan cel Mare – Parcul Circului area, capitalizes on the demand for extended stay accommodations, offering quick access to major medical centers such as Floreasca Emergency Clinical Hospital, Euroclinic Hospital, Colentina Hospital, and the Matei Balș Institute.
Raluca Stancu, Chief Operating Officer of 1Development, states that premium aparthotels no longer represent a niche segment, but a strategic direction that meets the needs of mobile professionals and patients. This transformation is also fueled by the global “bleisure” trend, whereby 15% of business trips are extended with vacation days. In the long term, 1Development aims to develop a coherent portfolio of operationally efficient projects, adapted to the demand for remote workspaces and full hotel facilities, such as 24/7 security and assistance.
Frequently Asked Questions
What is the occupancy rate of Central Suites?
In its first year of operation, Central Suites achieved an average occupancy rate of 60%, with a high customer return rate of 90%.
What factors are driving the growth of the aparthotel market in Bucharest?
Growth is primarily driven by medical tourism, the “bleisure” trend (combining business and leisure), and a significant increase in RevPAR (Revenue Per Available Room) exceeding inflation.
Where is Central Suites located and what is its main target audience?
Located in the Ștefan cel Mare – Parcul Circului area, it targets extended-stay guests, mobile professionals, and patients needing proximity to major medical centers like Floreasca and Colentina.