Bucharest’s hotel market posted a solid performance in 2024, continuing to recover from pandemic-era declines in average revenue per available room (RevPAR) and occupancy rates, while the average daily room rate surpassed the 100 EUR\/room threshold, according to real estate consultancy Cushman & Wakefield Echinox.<\/p>\n
This performance encourages investments in new hotels, so that by 2027 Bucharest could have around 1,000 new rooms, representing hotels in all segments, from midscale to luxury.<\/p>\n
Two hotel openings are planned for 2025, representing a renovation and an expansion.<\/p>\n
One of the most important openings in 2025 has already taken place, namely the Corinthia Grand Hotel du Boulevard Bucharest in the city center.<\/p>\n
In 2024 only one hotel was completed in Bucharest, namely Ramada by Wyndham Bucharest Otopeni Airport.<\/p>\n
The growth of the Bucharest hotel market in 2024 was in line with trends in Central and Eastern Europe (CEE – 6 – Bucharest, Bratislava, Budapest, Prague, Sofia and Warsaw), with average revenue per available room (RevPAR) up 11.8% compared to 2023 and 12.6% compared to 2019.<\/p>\n
At the same time, with an increase of 7.3%, Bucharest recorded the fastest increase in the average daily rate (ADR) among CEE capitals, which thus surpassed the EUR 100 threshold.<\/p>\n
Across the region, revenue per available room increased by 8.9%, largely on the back of a 4.7% increase in the average daily rate.<\/p>\n
At the same time, the employment rate has increased by 2.5 percentage points compared to 2023, reaching 65.2% in 2024 (but 4.7 percentage points below the 2019 level).<\/p>\n
In terms of investment, Romania recorded in 2024 a volume of hotel property transactions of around EUR 50 million, representing 13% of the total CEE-6 (Poland, Czech Republic, Slovakia, Hungary, Romania and Bulgaria) transaction volume of EUR 399 million. <\/p>\n
The volume transacted last year represents an increase of 93% compared to 2023 and was generated by 7 transactions, two of which in Bucharest: Ambassador Hotel, a property that will benefit from a significant renovation process, and Sir Royal Bucharest.<\/p>\n
At the same time, it is a positive sign that five transactions involved properties outside the capital. The majority of the traded properties are positioned in the medium and medium-plus segment. <\/p>\n
Over 2024, prime yields in the CEE hotel investment market remained constant, with a slight decrease observed for prime assets in key locations. Stabilizing inflation, falling financing costs and rising capital inflows point to the possibility of further yield compression through 2025. <\/p>\n","protected":false},"excerpt":{"rendered":"
Bucharest’s hotel market posted a solid performance in 2024, continuing to recover from pandemic-era declines in average revenue per available room (RevPAR) and occupancy rates, while the average daily room rate surpassed the 100 EUR\/room threshold, according to real estate consultancy Cushman & Wakefield Echinox. This performance encourages investments in new hotels, so that by…<\/p>\n","protected":false},"author":8,"featured_media":108095,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2853],"tags":[3826,4067],"thb-sponsors":[],"class_list":["post-109842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","tag-market","tag-revpar-en"],"article_style_override":"","post-style":"","post_via":"","post-top-image":"","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/109842","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=109842"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/109842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/108095"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=109842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=109842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=109842"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=109842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}