According to market sources, the owners of the Europa Royale hotel in Bucharest will start construction this year for a hotel in the north of the capital, which is set to be affiliated with Courtyard by Marriott, the 4-star brand of the Marriott International group.
The Lithuanian investors, who are currently building a Hilton Garden Inn hotel in Bucharest’s Old Town, have purchased a plot of land on Dimitrie Pompeiu Boulevard in the capital, where they are to develop a new project.
Hotel market sources specified that the Lithuanians have recently signed a franchise agreement with Courtyard by Marriott, and the unit will be classified at 4 stars and will have 200-250 rooms and several conference rooms. The total investment is estimated, according to the cited sources, at around 18-20 million EUR.
In 2012, former footballer Gica Popescu announced that he would build a 4-star hotel in Bucharest which he would affiliate with Courtyard by Marriott. This project was never implemented, and now a residential building will be constructed on that land, located somewhere behind the Sector 1 City Hall.
Source: Profit
Frequently Asked Questions
Where will the first Courtyard by Marriott in Romania be located?
The hotel will be built in the northern part of Bucharest, specifically on Dimitrie Pompeiu Boulevard.
Who are the investors behind this project?
The project is being developed by Lithuanian investors who also own Europa Royale and are building a Hilton Garden Inn in Bucharest.
What is the estimated investment for the new hotel?
The total investment for the 200-250 room hotel is estimated to be between 18 and 20 million EUR.