Julius Meinl Living has announced the completion of the acquisition of the emblematic Hotel Ambasador on General Gheorghe Magheru Boulevard in Bucharest, which, after an extensive consolidation and renovation process, is due to open in 2027 under the name of The Julius Bucharest.
The property, a 12,600 square meter Art Deco building, was built shortly before World War II and opened in 1939.
Hotel operations were interrupted during World War II and the early years of communism.
However, in 1958, hotel operations were resumed and have continued ever since.
The acquisition was accomplished in two stages, in the first stage, Julius Meinl Living acquired the Ambasador SA, which owned one half of the property and operated as a hotel.
Later, in the second phase, Ambasador SA acquired the other half of the property, which was separately owned.
In the process of acquiring the Hotel Ambasador property, Julius Meinl Living was assisted by a team of consultants, including Daniel Țigănilă, Managing Partner of Special Properties (brokerage), Kinstellar (legal), TPA (financial), Optim Project Management (development).
The redevelopment will take about two years.
Thereafter, The Julius Bucharest will preserve the essence and character of the existing building and, according to first estimates, will have 158 luxury rooms and apartments.
The facilities and services will follow the model already successfully established by The Julius Prague, including a gourmet food and beverage shop branded House of Julius Meinl.
As with The Julius Prague, The Julius Bucharest is intended to be LEED Gold certified.
This indicator of environmental credentials will make The Julius Bucharest one of the most sustainable buildings in Romania.
Julius Meinl Living is wholly owned by the Julius Meinl family, which has been active in consumer goods, retail and real estate for the past 162 years.
This news is an update of the following news previously published in RHN: Austria’s Julius Meinl family buys a hotel-emblem in the center of Bucharest
Update: Hotel Ambasador in Bucharest, bought by Julius Meinl Living, will become The Julius Bucharest
