Adrian Polec, owner of the APX Hotels group, has purchased a real estate project from the Chitafes family that involves the construction of an aparthotel with several dozen rooms near the Palace of the Parliament. €1.3 million was paid for the land located in the Cotroceni area.
Apx Immo will invest over €2 million in the real estate project. This new acquisition comes after the APX Hotels group purchased the 4-star Libra hotel in the center of Sibiu at a price of €1.85 million.
The aparthotel project was brought to the authorization stage by the entrepreneur family Sorina, Daniel, and Ionut-Iulian Chitafes, well-known real estate developers in Bucharest, alongside Catalin Silviu Stan and Robert Alexandru Andrei.
Adrian Polec also has 5 other 4-star hotels in his group: the Venis and Filitti boutique hotels in central Bucharest, plus the Wolkendorf hotel complex in the Brasov village of Vulcan and Hermanns Hotel in Sibiu.
The entrepreneur also owns a plot of approximately 1,500 sqm near Union Plaza, where he intends to build a 14-story hotel, the largest in his hotel chain. Additionally, the businessman intends to develop an 11-story apartment block in the Mihai Bravu area, near the Vitan Residence residential complex—developed with funding from the American Rockefeller family.
The volume of hotel asset transactions in Romania reached approximately €9.5 million in 2020, an 87% decrease compared to the nearly €75 million volume of the previous year.
Frequently Asked Questions
Who is the investor behind the new aparthotel near the Palace of the Parliament?The project is being developed by Adrian Polec, the owner of APX Hotels, who purchased the project from the Chitafes family.
What is the total value of the investment?The total investment exceeds €2 million, which includes the €1.3 million purchase price for the land in the Cotroceni area.
What other hotels are part of the APX Hotels portfolio?The group owns several 4-star properties, including Venis and Filitti in Bucharest, Wolkendorf in Brasov, and Hermanns and Libra in Sibiu.