Entrepreneur Nicolae Bucovală, owner of the Steaua de Mare Hotels & Resorts complex in Eforie Nord, has acquired the four-star Zenith Conference & Spa hotel in Mamaia. The deal, the value of which was not disclosed, was concluded with the investment fund RC2 and the firm Antares Management, owned by Dumitru Becșenescu. The move consolidates the businessman’s portfolio on the Romanian coast and underlines the dynamics of the hotel market, dominated by local investors.
Nicolae Bucovală has confirmed the deal and announced an investment plan to modernize the hotel, with details to be finalized with a team of architects in January. The acquisition completes an extensive portfolio that includes, in addition to the Steaua de Mare complex in Eforie Nord (bought in 2012 for more than EUR4m), the Tomis hotel in Mamaia, the Oltenia (acquired in 2019 and upgraded from 2-star to 4-star) and Muntenia (acquired in 2023 in a deal estimated at almost EUR10m) hotels in Olimp. Its strategy focuses on taking over and modernizing hotel units built before 1989.
Hotel Zenith Conference & Spa, located in the central area of Mamaia resort, has a direct sea front and operates all year round, serving both leisure and business segments. Built in 1969 and subsequently modernized, the complex consists of two buildings (Jupiter and Junona), with a total built area of about 13,400 sqm on a plot of over 5,800 sqm. The unit has 295 rooms, restaurants, wellness center, outdoor swimming pool, private beach and a conference center. The transacted package also includes an adjacent, building-free, sea-facing plot, offering potential for future developments.
The sale process was coordinated by real estate consultancy Cushman & Wakefield Echinox. Its representatives emphasize that the transaction reflects the increased interest in hotel assets on the seaside and the area’s potential to become an attractive all-season destination. The Mamaia-Constanța market concentrates around 340 accommodation establishments, of which more than 100 hotels, with a total capacity of around 10,000 beds.