Bucharest holds 18,564 accommodation places in 114 hotels, representing nearly 10% of the country’s total hotel accommodation capacity, according to a ZF analysis based on data from the National Institute of Statistics, INS.
Although the number of hotels in the Capital doubled last year compared to 2005, when 54 hotels were operating with a capacity of 9,200 places, the Bucharest hotel market still needs new investments.
However, the Capital has not yet managed to attract luxury brands such as Ritz Carlton, a brand of the Marriott hotel chain, or Four Seasons, which are present in Budapest or Warsaw.
In 2015, 1.6 million tourists stayed in Bucharest hotels, out of a total of 7.2 million tourists who arrived in hotels across the country. Tourists spent an average of under 2 nights, totaling 2.7 million nights, according to INS data.
The five largest companies with hotel units in Bucharest—namely ANA Hotels (which owns Athénée Palace Hilton and Crowne Plaza), Bucuresti Turism (which owns the Radisson Blu hotel), Societatea Companiilor Hoteliee Grand (which owns the JW Marriott Grand Hotel), Continental Hotels (which owns the Grand Hotel in the Capital), and Compania Hoteliera InterContinental (which owns the InterContinental hotel)—had total business of 518 million RON last year, according to ZF calculations based on data from the Ministry of Finance.
“Bucharest is several years behind other European capitals in the region, such as Budapest, Warsaw, or Prague, where luxury hotel brands have entered. Bucharest lacks these luxury hotels, such as Four Seasons or Ritz Carlton, which shows the market’s level of maturity,” says Sorin Ionescu, a consultant at Fivestar Hospitality.
Most hotel openings in the Capital took place during the years of economic growth, 2007-2008, when accommodation capacity nearly doubled.
Source: Ziarul Financiar
Frequently Asked Questions
What is the current hotel capacity in Bucharest?
Bucharest offers 18,564 accommodation places across 114 hotels, accounting for about 10% of Romania’s total hotel capacity.
Which luxury hotel brands are missing from the Bucharest market?
Major luxury brands like Ritz Carlton and Four Seasons, which are present in neighboring capitals like Budapest and Warsaw, have not yet entered the Bucharest market.
Who are the main players in the Bucharest hotel industry?
The market is led by major companies including ANA Hotels, Bucuresti Turism (Radisson Blu), Grand (JW Marriott), Continental Hotels, and InterContinental.