One United Properties has signed a memorandum of understanding with Ennismore to bring The Hoxton hotel brand to Bucharest. The new hotel will be integrated into the One Downtown project, which is the result of the restoration of three historic buildings at 19-23 Academiei Street, next to the Odeon Theater and the University of Architecture.
The company bought the properties in 2022 for €3.73m and estimates a total investment of around €35m for the development. The land is about 1,300 square meters and the projected built area reaches 7,100 square meters. The buildings once housed the Muntenia Hotel, built between 1925 and 1930 and closed since 2006.
The Hoxton, founded in 2006, currently owns 11 hotels with 1,988 rooms in six countries and has a further 10 under development, including in Romania. The final hotel management agreement will be signed within 30 days.
For One United, this is the second major international brand introduced to the local market, following the announcement of the Mondrian Hotel, and is part of the company’s plan to have three five-star hotels operational and three more under development by 2030.
One United Properties brings The Hoxton to Bucharest city center
