{"id":119688,"date":"2019-11-28T00:00:00","date_gmt":"2019-11-27T22:00:00","guid":{"rendered":"https:\/\/rhn.ro\/the-ramada-majestic-hotel-in-the-capital-is-very-close-to-being-sold\/"},"modified":"2026-03-27T13:51:46","modified_gmt":"2026-03-27T11:51:46","slug":"the-ramada-majestic-hotel-in-the-capital-is-very-close-to-being-sold","status":"publish","type":"post","link":"https:\/\/rhn.ro\/en\/the-ramada-majestic-hotel-in-the-capital-is-very-close-to-being-sold\/","title":{"rendered":"The Ramada-Majestic Hotel in the Capital is very close to being sold"},"content":{"rendered":"
The owners of the Ramada-Majestic hotel in central Bucharest, put up for sale last summer for EUR 13 million, are in final negotiations with an Israeli hotel group with global holdings and real estate investments.<\/div>\n
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According to several sources in the tourism market, the sale price is significantly lower than the one requested last summer by the shareholders.<\/div>\n
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Built before World War I, a host for the actors and props of the National Theatre after its building was bombed by the American air force in World War II, it became in the 90s the first hotel in the country affiliated with the American brand Ramada. Classified at 4 stars and adjacent to the Capsa restaurant, Ramada Majestic is one of Bucharest’s landmark hotels.<\/div>\n
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The four Turkish shareholders want to sell the hotel because they have all aged, and their children do not want to pursue a career in hospitality.<\/div>\n
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Built before World War I, in 1911, together with the Odeon Theatre, it received the name Majestic and hosted, during that period, the writer brothers Ionel and Pastorel Teodoreanu. It operated as a hotel for three decades, but after the Americans bombed the National Theatre in the 40s\u2014which was located on Calea Victoriei, on the site where the Novotel hotel is now built\u2014it functioned as a building that housed the theatre’s actors and props. In the 70s it became a hotel again, only to be bought 20 years later by Turkish investors.<\/div>\n
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The hotel is the first in the country to affiliate with the American brand Ramada. Classified at 4 stars, it has 111 rooms, a swimming pool, and two conference rooms. In the 60s, the then-mayor of the Capital, Ion Cosma, wanted to reintroduce Bucharest’s former landmark hotels into the tourist circuit. Thus, the Continental, Bulevard, and Majestic hotels reappeared in the heart of the city.<\/div>\n
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After reopening, it belonged to the company Lido SA, but was classified as a category I hotel. In the 90s, the building had only two floors, and on one floor, three actresses over the age of 90 still lived. In 1993, a joint venture was created between the Romanian state, through Lido SA, and the Turkish group Bayindir. The Romanian side contributed the hotel, holding 49% of the capital of the newly established company, and the Turks brought a cash contribution of USD 7.5 million, money with which the hotel was consolidated and modernized.<\/div>\n
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It was the first 4-star hotel in Bucharest, having 76 rooms at that time. The consolidation and modernization of the hotel lasted until January 1996, and in the summer of that year, it hosted its first high-profile client, Hillary Clinton, then the First Lady of the USA. Subsequently, a neighboring building was purchased, and the hotel was expanded, with works carried out between 2000 and 2003, requiring an investment of USD 5.5 million.<\/div>\n
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Over time, through several capital increases, the Turkish group increased its stake, and 10 years ago it also bought the remaining shares from the Romanian state.<\/div>\n

Source: Profit<\/a><\/p>\n

Frequently Asked Questions<\/h3>\n

Who is the potential buyer of the Ramada-Majestic hotel?<\/strong><\/p>\n

The owners are in final negotiations with an Israeli hotel group that has a global presence and real estate investments.<\/p>\n

What is the reason for selling the hotel?<\/strong><\/p>\n

The four Turkish shareholders decided to sell because they have aged, and their children do not wish to continue the business in the hospitality sector.<\/p>\n

Which notable figures have been hosted by this hotel?<\/strong><\/p>\n

Over time, the hotel has hosted writers Ionel and P\u0103storel Teodoreanu, and in 1996, it served as the residence for Hillary Clinton.<\/p>\n","protected":false},"excerpt":{"rendered":"

The owners of the Ramada-Majestic hotel in central Bucharest, put up for sale last summer for EUR 13 million, are in final negotiations with an Israeli hotel group with global holdings and real estate investments. According to several sources in the tourism market, the sale price is significantly lower than the one requested last summer…<\/p>\n","protected":false},"author":0,"featured_media":67871,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2852],"tags":[],"thb-sponsors":[],"class_list":["post-119688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotels-restaurants"],"article_style_override":"","post-style":"","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\/119688","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=119688"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/119688\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/67871"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=119688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=119688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=119688"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=119688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}