In mid-June, businessman Mohammad Murad will open his first 5-star hotel in Năvodari, where renting an apartment will cost 300 EUR/night.
Demand for this segment is growing, and Murad aims, through this investment, to keep Romanians who seek luxury resorts in Dubai or other foreign destinations on the local coast.
The investment in the new Phoenicia Royal hotel, which has 146 apartments, amounts to 7 million EUR. Murad stated that each floor will have its own buffet.
The official opening will be on June 22, and the opening to the public is estimated between June 15 and 18.
He observed from previous years that there is an unmet demand for the premium segment. The 4-star hotels he owns in Năvodari, which total around 2,500 accommodation places, were open last year between May 19 and September 19, and during the four months of the season, they had an occupancy rate of 94%.
Source: Profit
Frequently Asked Questions
Where is the new Phoenicia Royal hotel located?
The hotel is located in Năvodari, on the Romanian seaside.
How much does an apartment cost per night at Phoenicia Royal?
Renting an apartment in the new 5-star hotel costs 300 EUR per night.
What is the total investment for this project?
The investment in the Phoenicia Royal hotel amounts to 7 million EUR.