Rin Grand, the hotel located in southern Bucharest, near AutoVit, built in 2007 following a 60-million-euro investment just before the NATO Summit in Bucharest, has been closed and will be transformed into apartments. At its launch, the owners were confident that the 1,460 rooms would be well-received by the market, but by 2012, only a third of the total accommodation capacity still operated as a hotel, with the rest being converted into apartments put up for sale. In 2021, 480 rooms were still operating in a hotel regime.<\/p>\n
\u201eThe pandemic affected us greatly; the occupancy rate and revenues collapsed dramatically at Rin Grand Hotel, revenues dropped by 80%, we even brought money from home. We closed it and are transforming the last rooms that operated in a hotel regime into apartments. We will finalize this conversion by summer,\u201c stated Ionu\u021b Negoi\u021b\u0103, brother of Robert Negoi\u021b\u0103, the mayor of Sector 3.<\/p>\n
In addition to investments in tourism, Ionu\u021b Negoi\u021b\u0103 is also the former majority shareholder of Dinamo Bucharest, as well as one of the largest developers of residential projects in the capital, a field in which he stated he will continue to focus.<\/p>\n
<\/p>\n
Why was Rin Grand Hotel closed?<\/strong><\/p>\n The hotel was closed due to the severe impact of the pandemic, which caused an 80% drop in revenue and occupancy rates, making the operation unsustainable.<\/p>\n What is the future of the Rin Grand building?<\/strong><\/p>\n The entire building is being converted into a residential complex, with the final 480 hotel rooms currently being transformed into apartments.<\/p>\n Who is leading the conversion project?<\/strong><\/p>\n The project is led by Ionu\u021b Negoi\u021b\u0103, a prominent residential developer and former owner of Dinamo Bucharest.<\/p>\n","protected":false},"excerpt":{"rendered":" Rin Grand, the hotel located in southern Bucharest, near AutoVit, built in 2007 following a 60-million-euro investment just before the NATO Summit in Bucharest, has been closed and will be transformed into apartments. At its launch, the owners were confident that the 1,460 rooms would be well-received by the market, but by 2012, only a…<\/p>\n","protected":false},"author":0,"featured_media":88876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2859],"tags":[],"thb-sponsors":[],"class_list":["post-117247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stirea-editiei-en"],"article_style_override":"on","post-style":"style2","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2020\/02\/topstory.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/117247","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=117247"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/117247\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/88876"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=117247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=117247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=117247"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=117247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}