Accommodation investors are working on 18 hotels, 3*, 4* and 5*, to be delivered in the next three years, with a value of over €500 million.
These include four- and five-star hotels under the Doubletree by Hilton, Hyatt, Kempinski, Mondrian, Mercure, The Crest Collection, some of which are opening for the first time in the network, others are expanding.
Among the hotels announced to open this year are Doubletree by Hilton Brasov City Center, with 130 rooms, Hilton Garden In Brasov, 130 rooms, Novotel Living Bucharest, 150 rooms, Swissôtel Bucharest, 224 rooms, Swissôtel Poiana Brasov, 112 rooms. In March, Corinthia Grand Hotel Boulevard Bucharest was also launched on the market, with 30 luxurious apartments in one of the oldest buildings in Bucharest.
Commercial property investors are increasingly considering the accommodation market, both in big cities and in mountain and seaside resorts. In Romania, hotel investment volume totaled EUR69.3m in 2024, 56% higher than in 2023, according to monitoring by Fortim Trusted Advisors. At the European level, the hotel industry attracted EUR20.5 mln, up 70% from 2023, and is considered the best asset class by year-on-year performance, according to the latest BNP Paribas Real Estate Investment Report.
In the last 12 months, 1,686 sites have been identified in the hospitality sector, including hotels, holiday homes, hostels, as well as construction, renovation, repair, modernization or expansion projects. The total value of these investments is estimated at 216.95 bn. RON.
In terms of geographical distribution and number of units, Constanta leads the field with 274 projects in this sector. Although Bucharest has only 52 projects, it boasts the most expensive hotel opened this month.
On the local market, projects are being prepared by internationally recognized hotels with over 4,500 rooms. Agreements have been signed to invest in Bucharest and some of the most important regional centers.