Around 1,500 4 and 5-star hotel rooms will be delivered in the coming years as part of real estate complexes, developed both in Bucharest and in cities such as Cluj, Constanta and Iasi.
With hotels already established in Bucharest's Piata Victoriei, Mihail Kogalniceanu boulevard and the Piata Presei Libere area, developers are now starting to introduce hotels to major real estate projects.
The largest hotel set to be part of a real estate complex has been announced by River Invest, which will develop a 4-star, 400-room hotel with investments worth 25m euros within Bucharest's Sema Parc project, according to previous statements made by company representatives. The entire Sema Parc project will be developed on a 42-ha area, on the site of the former Semanatoarea plant, and will have a built area of 66 hectares.
Both the Sema Parc hotel, and one part of Dambovita Center, another major project in Bucharest (also known as the Casa Radio project) will be affiliated to international chains. The Dambovita Center hotel will be a 300-room luxury hotel that could become part of the 5-star Regent brand belonging to Rezidor.
The list of hotels built in major Bucharest projects will also include one in Baneasa, the capital's biggest real estate project, which entails investments worth 2bn euros. "(...) The hotel concept primarily envisages 4-star accommodation for businesspeople, will have a capacity of around 300, and 250 rooms," said Michael Lloyd, principal & managing partner with Baneasa project.
Developers Atrium Centers will build hotels in two cities that have been added to the map, namely Cluj and Satu Mare. The developer's representatives said they would decide in the second half of this year under which international brand the hotel would operate. They consider the main advantage of Atrium Centers Cluj project is the central location of the mall, a characteristic they count on in the case of Atrium Centers Satu Mare.
Another two important developers on the market are Iulius Group and RED Project Management, in Iasi and Constanta respectively.
The Palas complex in Iasi, an above 220m-euro investment by Iulius Group, will include a residential area, a commercial area, a hotel, and class-A office space.
In Constanta, RED will develop a 4-star hotel in Trident Plaza.
The list of real estate developers that are considering hotels and the list of targeted cities will not stop here however. In Timisoara, the Cristescu brothers plan to develop a 4 or 5-star hotel in a complex that includes a mall and 2 office buildings.
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