The five-star Sheraton Hotel in Bucharest, operated by Grand Plaza Hotel, has started an extensive modernization of its 270 rooms and public spaces, a project involving a total investment of EUR 6 million. The hotel, part of the international Marriott chain, thus continues its development strategy after a year 2024 in which it reported increases in financial indicators, without reaching the benchmark level of 2019, considered the best year in pre-pandemic tourism.
Renovation work is currently being carried out on three floors, covering 50 rooms, with the aim to have the entire inventory of accommodation upgraded by next year. Daniel Ben-Yehuda, the hotel’s general manager, said the project also includes the refurbishment of public spaces, and the area where the casino previously operated is now home to the Stay Fit Gym brand. Management expects a slight increase in turnover for the current year, despite the investments. From a financial perspective, Grand Plaza Hotel ended 2024 with a turnover of approximately €11.67m, up from €10.37m in the previous year. Net profit increased significantly to around EUR 1.34 mill. from around EUR 0.2 mill. in the previous year. The Sheraton (formerly Howard Johnson) remains one of the largest establishments in the capital, with 11 conference rooms.