On August 28, the Starwood Hotels & Resorts Worldwide hotel chain opened the first hotel under this brand in Romania.
Starwood Hotels & Resorts signed a franchise agreement for at least 20 years with Grand Plaza Hotel, which owned the former Howard Johnson hotel in Bucharest.
Grand Plaza Hotel SA invested between 5 and 6 million EUR to convert the hotel from 4 to 5 stars and to ultimately meet Sheraton’s requirements and standards. Additionally, the hotel now has 270 rooms, compared to 280 before, and 280-300 employees.
Robert Koren, Vice President and Regional Director for Eastern Europe at Starwood, stated that negotiations lasted several years. „Among the reasons we took this step are the quality of work here, but also a solid, growing Gross Domestic Product. We are looking for a partnership with the right owner, in the right place, and the right building. We also want to open other hotels in Romania; we are in discussions in this regard," Koren said.
He estimates an increase in the hotel’s occupancy rate, compared to about 60% when the building operated under the former brand. Additionally, the construction of a swimming pool is planned for the future.
Sheraton is thus expanding its European brand portfolio to up to 60 hotels.
"With the local market debut of Starwood Hotels & Resorts with the Sheraton hotel brand, Romania represents an important expansion opportunity, bringing Sheraton closer to its goal of opening over 150 hotels in the next five years," said Dave Marr, Global Brand Leader, Sheraton Hotels & Resorts.
The hotel features a gym, a reading area, and relaxation spaces on the 18th floor. The building has 11 conference rooms, including 2 ballrooms and 2 meeting rooms.
Also, the hotel introduces the industry’s most extensive loyalty program to the Romanian market, Starwood Preferred Guest (SPG), which all local and international Sheraton clients can join.
In addition to the hotel inaugurated in Bucharest, the openings of Sheraton Lake Como Hotel, the brand’s eighth hotel in Italy, Sheraton Ufa in Russia, and Sheraton Samsun in Turkey are scheduled for this year.
The Sheraton Hotels & Resorts network includes 430 hotels in nearly 75 countries worldwide.
Source: Economica
Frequently Asked Questions
Where is the first Sheraton hotel in Romania located?
The first Sheraton hotel in Romania is located in Bucharest, occupying the building of the former Howard Johnson hotel.
How much was invested in the hotel’s rebranding?
Grand Plaza Hotel SA invested between 5 and 6 million EUR to upgrade the property to meet Sheraton’s 5-star standards.
What facilities does the new Sheraton Bucharest offer?
The hotel features 270 rooms, 11 conference rooms, a gym, and relaxation areas on the 18th floor.