Hotel Cișmigiu was acquired by the real estate developer Hercesa in 2004, which invested 15 million EUR in renovating the building, which is now celebrating 112 years since its inauguration.
The year 2023 was the best in the hotel’s history in terms of results, reaching revenues of 1.9 million EUR, surpassing the reference year of 2019.
For 2024, the hotel’s general manager, Mirela Cojocaru, anticipates slower growth, partly because last year was an exceptional one for them. The target is to exceed the 2 million EUR revenue threshold.
The company continues to rely on the hotel’s attractiveness due to its positioning, a benefit not shared by many 4-star hotels in the city—those that capture most tourists visiting Romania’s capital.
The hotel’s general manager also counts on the contrast the building offers in terms of architecture and interior design.
2024 will be a challenging year given the current context. On Elisabeta Boulevard, several buildings have been classified as having a high seismic risk, and many of the commercial spaces on the ground floor of these buildings have no longer received operating permits.
The problem is not necessarily that those commercial spaces would no longer operate, but that they could create a negative image of the area where Hotel Cișmigiu is located—a building that complies with all earthquake safety standards.
The positive side is that the hotel is close to the city’s Old Town and Calea Victoriei, and tourists staying at the hotel primarily seek entertainment and shopping locations in these areas.
The bedrooms are separate from the living areas, and some include kitchenettes. They are modernly furnished, and tourists coming to Hotel Cișmigiu prefer it because it is perfect for those traveling in groups, although, as with the vast majority of hotels in the Capital, business tourism brings the most visitors to the Hercesa-owned property.
The hotel offers three types of suites: Executive, Superior, and Deluxe. It features two restaurants: “Gambrinus” on the ground floor, and “Bistro La Etaj” on the top floor, where guests can have breakfast.
Hotel Cișmigiu can also host corporate and private events, providing several rooms: Lipscani, Blănari, Șelari, Zarafi, Gabroveni, as well as the Cervantes Amphitheatre.
Frequently Asked Questions
What are the financial goals for Hotel Cișmigiu in 2024?
Following a record-breaking 2023 with 1.9 million EUR in revenue, the hotel aims to surpass the 2 million EUR threshold in 2024.
How does the seismic risk of neighboring buildings affect the hotel?
While Hotel Cișmigiu itself meets all safety standards, the closure of neighboring ground-floor businesses due to seismic risk classifications on Elisabeta Boulevard may impact the aesthetic and commercial appeal of the immediate area.
What types of accommodation and facilities does the hotel offer?
The hotel offers Executive, Superior, and Deluxe suites with separate living areas. Facilities include two restaurants (Gambrinus and Bistro La Etaj) and several event spaces, including the Cervantes Amphitheatre.