Corinthia confirmed its entry into the Romanian hotel market
The Corinthia hotel chain has confirmed its entry into the Romanian hotel market, where the former Grand Hotel du Boulevard will be reopened under the Corinthia brand. The hotel will have 50 rooms and will be classified as 5-star.
Renovation works will begin in the second quarter of this year, and the unit will be inaugurated on December 1st.
The role of the Corinthia hotel chain will be that of operator, according to the terms and conditions of the management contract signed on March 5th with the building’s owner, NIRO Investment Group.
QP Management, a company affiliated with the Corinthia hotel group, will support the development team by providing project management and financial services. Consultancy services during the transaction were provided by Beaufort Global, one of the largest investment, development, and asset management firms.
On May 10th, the official partnership signing ceremony will take place in the presence of representatives from Corinthia Hotels, NIRO Investment Group, and Beaufort Global Partners.
The date of the event, Romanian Monarchy Day, was chosen for its historical and cultural significance for the Romanian people, the hotel chain states.
Source: Profit
Frequently Asked Questions
Where will the new Corinthia hotel be located in Romania?
The new hotel will be located in the former Grand Hotel du Boulevard building in Bucharest.
When is the hotel opening scheduled?
The official inauguration of the Corinthia hotel is scheduled for December 1st.
Who owns the building where the hotel will operate?
The building is owned by NIRO Investment Group, with Corinthia serving as the operator under a management contract.