Monarc Properties, a real estate company specializing in the development of luxury hotel and residential projects, will start construction this year on a new five-star hotel in Mamaia resort, having already signed an agreement with the Radisson hotel group.
“Radisson Blu Hotel & Residences Mamaia will redefine the standards of the hotel industry in Constanța. It is a unique moment in an economic context that favors smart investments in hospitality and real estate, especially in the premium segment. We started this journey 5 years ago and in the last 2 years we have managed, together with the team we have today, to bring the most important and luxurious project we have in Bucharest, Radisson Blu”, says Alexandru Manea, CEO and co-founder of the company.
The Radisson Blu Hotel & Residences Mamaia is expected to open in 2028, with a total investment of EUR 75 million.
The investment will be financed 60% from bank loans, 30% from Monarc and the company’s partners’ funds, and 10% will be financed by a private financing round.
The project will have two towers and will include a mix of 234 hotel rooms and 102 residences, and will cater to both Romanian tourists and local and foreign businessmen.
The hotel component of the complex will have 234 rooms when completed, while the branded residence component will have 102 units, including studios, ground floor lofts with 6 m high and with garden, as well as two-bedroom apartments, three-bedroom apartments, duplexes and penthouses.
The complex will feature a multitude of facilities such as the largest conference hall in Constanta, with 700 seats, a 900 square meters SPA, two restaurants, an infinity pool and a bar area.
Radisson Hotel Group is a rapidly expanding international hotel group operating in EMEA and APAC, with more than 1,460 hotels in operation and under development in over 100 countries.
Radisson Blu is a brand of the American hotel chain Radisson. The Radisson Blu brand falls into the luxury accommodation category and emphasizes Scandinavian-inspired design, focusing on minimalist elegance and comfort.