Accor has Signed to Launch it’s Swissotel Brand in Romania

Main Photo: The new Swissotel in Bucharest, imagined

Date: April 2019

Location: Expozitiei Boulevard, Bucharest, Romania

Name: Swissotel Bucharest – opening 2021

No. of Keys: 225

Was: TBA

Buyer: Niro Investment Group will develop what will be the city’s tallest building. The property will run under a management contract.

“For 25 years our company, as a real estate developer and investor, has launched important business projects, often of pioneering nature,” said Nicolae Dumitru, chairman of Niro Investment Group.

“We are excited to break ground on this major project that will bring more amenities, jobs, out-of-town visitors and business guests to Bucharest. This is an exciting period in Niro Investment Group’s development, and we are honoured to be partners with an important luxury brand like Swissôtel.”

Paris-based Accor has sealed a deal to open the first Swissôtel hotel in Romania following the signing of a management contract with local partner and investor Business Hotels Investment, a member of the Niro Investment Group.

Upon completion, the Bucharest development will feature rooms across 18 floors, restaurants, a pool, a Spa & Sport facility and meeting space. With a reported investment of approximately €60 million, the project is due to open by 2021 and will become Bucharest’s tallest hotel.

The property is a 10-minute drive from Otopeni Airport and close to several corporate and business headquarters, including Romexpo, the biggest event and exposition centre in Romania.

“Romania is a quickly developing, very attractive market with huge potential and very good yields,” said Frank Reul, head of development for Eastern Europe at Accor.

“There is a strong domestic demand for hospitality services, also by affluent Romanians, not speaking about international visitors. We feel honoured that Niro Investment Group has chosen Swissôtel and Accor for the management of this ambitious hotel project.

We’re sure that Swissôtel Bucharest will bring new standards to the Romanian hotel industry.”

Price: €60m

Price per Key: €266,667

THPT Comment: Great to see this global brand open in Romania.

First Seen: Hospitalitynet

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