Grand Hotel Bucharest, the former Intercontinental hotel, managed by Compania Hotelier\u0103 Intercontinental, recorded a turnover of 26.8 million RON in 2022, an increase of 42.9% compared to the previous year, while net profit decreased by nearly 35% to 2.8 million RON.<\/p>\n
The unit in University Square was inaugurated in 1971, following a 6 million USD investment. Currently, the Grand Hotel Bucharest, which belongs to the Compania Hotelier\u0103 Intercontinental Bucure\u015fti (RCHI), operates 257 rooms and suites, a Club Lounge on the 21st floor, a spa center with an indoor pool on the 22nd floor, two restaurants, and over 1,500 square meters of conference space.<\/p>\n
The hotel was rebranded in 2022, after the management contract under which the unit was operated by the international Intercontinental chain expired and was not extended by RCHI.<\/p>\n
The last contract, concluded in 2006 between Compania Hotelier\u0103 Intercontinental Rom\u00e2nia and IHG Hotels & Resorts, the owner of the InterContinental brand, marked the transition from a franchise agreement to a management contract with the international group.<\/p>\n
Currently, Grand Hotel Bucharest is undergoing an extensive renovation project, a total investment of 21 million EUR scheduled for completion in 2024.<\/p>\n
What were the financial results for Grand Hotel Bucharest in 2022?<\/strong><\/p>\n The hotel recorded revenues of 26.8 million RON (a 42.9% increase YoY) and a net profit of 2.8 million RON.<\/p>\n Why was the hotel rebranded from Intercontinental?<\/strong><\/p>\n The rebranding occurred in 2022 after the management contract with IHG Hotels & Resorts expired and was not renewed by the owner, RCHI.<\/p>\n What is the current status of the hotel’s renovation?<\/strong><\/p>\n Grand Hotel Bucharest is currently undergoing a 21 million EUR renovation project, which is expected to be finalized in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":" Grand Hotel Bucharest, the former Intercontinental hotel, managed by Compania Hotelier\u0103 Intercontinental, recorded a turnover of 26.8 million RON in 2022, an increase of 42.9% compared to the previous year, while net profit decreased by nearly 35% to 2.8 million RON. The unit in University Square was inaugurated in 1971, following a 6 million USD…<\/p>\n","protected":false},"author":0,"featured_media":91487,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2852],"tags":[2925],"thb-sponsors":[],"class_list":["post-116097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotels-restaurants","tag-grand-hotel-bucharest-en"],"article_style_override":"on","post-style":"style2","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/hotelieri-2.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/116097","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"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=116097"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/116097\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/91487"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=116097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=116097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=116097"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=116097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}