Lithuanian company Apex Alliance has allocated €90 million to build four hotels in Bucharest by 2020: a 218-room Hilton hotel will be built at Henri Coanda, and three Marriott units, two of which will be in the city center and one on Dimitrie Pompeiu Blvd.
The Lithuanian company, owner of the recently opened Hilton Garden Inn Bucharest Old Town, is set to open four more hotels in the capital in the coming period, according to information released in March.
The Lithuanian company thus stands out as the most dynamic investor in the Bucharest hotel market.
“We are also interested in other cities, but for now, we don’t have a clear direction. Timisoara, Cluj-Napoca, Brasov, Constanta could be destinations of interest for us in the future. I believe there is still growth potential in Bucharest and certainly in other cities. The hotel industry is not easy; you must know how to develop efficiently, both in terms of space organization and design, as well as construction costs. Experience is essential. All our hotels are managed by our sister company, Apex Alliance Hotel Management, specialized in professional hotel management, designated to manage hotels affiliated with major international chains. At the same time, we also manage hotels for other developers who want to build a hotel but lack experience in the hotel industry. In this sense, we can be a bridge between these developers and international hotel chains,” said Arunas Beleska, Chairman of the Board and owner of Apex Alliance.
The first of the four hotels will be affiliated with the Courtyard by Marriott brand and will be located on Dimitrie Pompeiu Blvd. Construction work began in October 2017, and the hotel is scheduled to open on July 1, 2019. The hotel will have 259 rooms, an entire floor of conference rooms, and will be rated 4 stars. The investment is estimated at €22 million.
Moxy by Marriott, another hotel the Lithuanians are set to open in Bucharest, will be located in the city center at 17 Doamnei Street and is a new concept, different from any other hotel on the Romanian market. Construction work will start in September and be completed in October 2019. The hotel will be rated 3 stars, have 119 rooms, and require an investment of €12 million.
Also in the center of Bucharest, the Autograph Collection will be located—a brand under development by Apex, which, once created, will be affiliated with the Marriott chain, Beleska specified.
Construction work will begin in November this year and be completed in May 2020. The hotel will be 5 stars, have 215 rooms, and benefit from an investment of €35 million.
Apex Alliance recently purchased the former Marmorosch Blank bank building, which it intends to transform into a hotel as well.
The fourth hotel stands out from other investors’ projects on the Romanian market due to its unique location. The hotel will require an investment of over €20 million. According to market sources, the hotel is the first to be built right within the Henri Coanda Airport in Otopeni, in the immediate vicinity of the Departures terminal. The unit will be rated 4 stars and will have 218 rooms.
Source: Profit
Frequently Asked Questions
Which hotel brands is Apex Alliance bringing to Bucharest?
Apex Alliance is developing four hotels under the Hilton and Marriott brands, including Courtyard by Marriott, Moxy, and the Autograph Collection.
Where will the new Hilton hotel be located?
The new 218-room Hilton hotel will be built directly at Henri Coanda International Airport, near the Departures terminal.
What is the total investment for these projects?
The Lithuanian company has allocated a total of €90 million for the development of these four hotel projects in Bucharest.