The Austrian group House of Julius Meinl, which owns the two chocolate factories in Romania, Kandia and Heidi, is close to finalizing the acquisition of the Ambasador Hotel, one of the best-known hotels in Bucharest.
\nThis is the biggest investment attracted on Bulevardul Magheru, one of Romania’s best-known boulevards, in the last five years, since the reopening of the Lido Hotel.
\nThe Austrian group is preparing to invest about 35 mil.
\nEUR 35 million in acquiring and bringing the entire hotel to the 4-5 star standard.
\nAfter the completion of the transaction, the process of remodeling, refurbishment and rebranding of the hotel will start as soon as possible, with the realization of about 130 accommodation spaces, of which 40% will be double rooms.
\nIt is expected to receive the necessary approvals from the city hall by the end of the year.
\nThe building known as the Hotel Ambasador was privatized in 1995.
\nThe Ambasador SA owns half of the building, which is operated as a tourist reception structure with 99 accommodation spaces, catering services and a conference room, according to the classification criteria for 4-star hotels.
\nThe other half is owned by the heirs of architect Arghir Culina, who designed and owned the building.
\nEach of the two buildings has a built area of 6,200 square meters (6,200 square feet) and a footprint of 530 square meters (530 square feet).
\nJulius Meinl, one of the largest premium coffee producers in Central and Eastern Europe with a history of more than 160 years, entered the hotel market in 2019 through its subsidiary Julius Meinl Living, through which it owns two properties – The Julius in Prague, opening in spring 2022, and Escala Hotel & Suites in Budapest, which continues to operate under this name until its renovation.
\nIn total, the two properties have 219 apartments and a market value of more than 124 mil.
\nEUR.
\nThe acquisition of the Ambasador Hotel is now being handled through the Czech company JM Innovative Living Management. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Austrian group House of Julius Meinl, which owns the two chocolate factories in Romania, Kandia and Heidi, is close to finalizing the acquisition of the Ambasador Hotel, one of the best-known hotels in Bucharest. This is the biggest investment attracted on Bulevardul Magheru, one of Romania’s best-known boulevards, in the last five years, since…<\/p>\n","protected":false},"author":8,"featured_media":107651,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2859],"tags":[2984,2888,3016],"thb-sponsors":[],"class_list":["post-107663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stirea-editiei-en","tag-ambasador-hotel","tag-bucharest","tag-magheru-boulevard"],"article_style_override":"","post-style":"","post_via":"","post-top-image":"","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/107663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=107663"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/107663\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/107651"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=107663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=107663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=107663"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=107663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}