The Lido Hotel in Bucharest, an emblem of the city since the interwar period, has been taken over by businessman Mohammad Murad, who intends to affiliate it with Donald Trump’s hotel chain.
The owner of the Phoenicia hotel chain, Mohammad Murad, has leased the hotel for 15 years from the owners, with an option to buy, and is preparing an investment of over EUR 5 million in renovation works to reopen the hotel this fall.
“I want to return it to the glory days this hotel experienced, which for a long time was the symbol of Bucharest. I want to bring it back onto Bucharest’s tourist map,” stated Mohammad Murad.
Renovation works for the 119-room hotel will begin in a few weeks, and the hotel will have a four-star plus rating.
“We are trying to affiliate it with the Trump hotel chain, but until then it will be named Lido by Phoenicia,” Murad specified.
The hotel chain of the current American president, Trump Hotels, includes luxury units in New York, Las Vegas, Toronto, Panama, Vancouver, Washington, Waikiki, and Chicago. Affiliation with this chain requires the Lido Hotel to meet the comfort standards of these hotels to be promoted by Trump Hotels.
Mohammad Murad is the largest investor in Romanian tourism in recent years, and last December, he purchased the Amfiteatru-Panoramic-Belvedere complex for EUR 10 million, announcing an investment of approximately EUR 15 million, with plans to reopen it next summer.
In addition to the Phoenicia hotel chain, Mohammad Murad also owns the Spring Time restaurant chain and the Mandy canning factory. Murad has 3,500 accommodation places at the seaside in several hotels in Navodari, Mamaia, Jupiter, Olimp, and Neptun. Over the last 10 years, the businessman has built more than 2,000 homes in apartment blocks and villas in Bucharest and Constanta.
Source: Profit
Frequently Asked Questions
Who is the new operator of the Lido Hotel in Bucharest?
The hotel has been taken over by businessman Mohammad Murad, the owner of the Phoenicia hotel chain, through a 15-year lease agreement with a purchase option.
What are the renovation plans for the Lido Hotel?
Murad plans to invest over EUR 5 million in renovations to upgrade the 119-room hotel to a four-star plus standard and reopen it by autumn.
Will the Lido Hotel be part of an international chain?
There are ongoing efforts to affiliate the hotel with the Trump Hotels chain; until then, it will operate under the name Lido by Phoenicia.