The real estate group Yellow Tree has officially entered the Romanian hotel market through the acquisition of the Hilton Garden Inn Bucharest Airport hotel from the Lithuanian operator Apex Alliance. The transaction, valued at €40 million, represents a strategic diversification for Yellow Tree, whose previous investments were concentrated in the office and logistics segments in Bucharest and Otopeni.
The four-star hotel, the first located within a Romanian airport, was inaugurated in August 2019 following a €19 million investment and features 218 rooms. The transaction was brokered by IO Partners and JLL, and Apex Alliance will ensure service continuity by maintaining a management contract.
Yellow Tree currently holds a 90,000 sqm portfolio valued at approximately €120 million, which includes assets such as the historic Dionisie Lupu building, Olympia Tower, Nerva Traian 3, and the former Blue Air headquarters. The group is led by Chen Moravsky as CEO, alongside the local team consisting of Anda Constantin (COO) and George Gardin (Country Manager), and specializes in acquiring undervalued or non-performing assets for subsequent optimization.
For Apex Alliance, the sale is part of a portfolio optimization strategy started in 2019, with the operator also having the Courtyard by Marriott Floreasca hotel up for sale. The Lithuanian group, which reported revenues of €50 million in 2024 from the six units operated in the capital, continues its expansion with the upcoming opening of Hilton Garden Inn Brașov. In parallel, the company recently partnered with the owners of Dedeman for the acquisition of the Waldhaus Flims complex in Switzerland, marking an expansion into the international luxury market.
Frequently Asked Questions
Who acquired the Hilton Garden Inn Bucharest Airport hotel?
The hotel was acquired by the real estate group Yellow Tree, led by CEO Chen Moravsky.
What was the value of the transaction?
The transaction was valued at €40 million, representing a strategic diversification for Yellow Tree’s portfolio.
What will happen to the hotel’s management after the sale?
Apex Alliance will ensure service continuity by maintaining the management contract for the hotel unit.