Romania’s hotel market is seeing an influx of international brands, notably in the luxury segment.
Key players are responding to an uptick in tourism in the country, with over 13.6 million visitors recorded in 2023, accounting for around 5% of the country’s GDP. Predictions are that the travel and tourism market, worth USD2.688bn in 2024, will grow at an average 5.1% per year, over the next five years.
Attracting visitors to the capital
While the country has many attractions for international visitors, it is the capital, Bucharest, that will see the greatest number of internationally branded hotel projects, and it is the destination for many luxury hotel brands to launch in the country. The country has only a modest coastline onto the Black Sea, but plenty of inland towns and regions for travellers to explore.
Among luxury hotels coming to Bucharest is the country’s first Mondrian. Local developer One United Properties has teamed up with Ennismore, Accor’s lifestyle hotel division, to create a hotel that promises lots of style, plus around 100 rooms. One United acquired the unfinished building in 2022 for around EUR13.5m, and has now attracted the international brand to the project, which will open in 2026.
The historic Hotel du Boulevard is being extensively refurbished, after having stood empty for several years. The 1867 listed landmark will open in the coming months under the Corinthia brand. Early 2025 will see the opening of the 332 room Radisson Lagoon hotel, part of a new development in the city that will feature an artificial turquoise lagoon. Looking further ahead, there are plans for a Mercure, while the Tecadara Bucharest Hotel, with 150 rooms, will be joining Accor’s Handwritten Collection.
Building Brasov as a destination
The Transylvanian destination of Brasov is another Romanian destination for international brands. In late 2023, Hyatt hotels announced it would be adding Bucharest to its list of destinations, with a 200 room upper upscale property planned. The Hyatt Regency name will be added to the refurbished Aro Palace Brasov hotel. The hotel will join a growing Hyatt presence in the region that includes hotel projects in Bulgaria, Estonia, Serbia, Albania, and Croatia.
Kempinski is also coming to Brasov, with the 120 room Kempinski Poiana Brasov Ski Resort in the works. The resort and wellness spa will feature mountain views and will have facilities for weddings and conferences. And outside the town, a Scandinavian style villas resort is in development for launch under the Radisson Blu flag. The property will have 66 rooms, and should be completed in late 2026.
Accor is making considerable progress across the country. A flagship Swissotel is in development in Bucharest, with a sister property in Brasov. Its Ibis Styles brand is growing with projects in Cluj and Brasov joining a recent opening in Venus. Hilton, meanwhile has several signings heading into construction, including DoubleTree hotels in Brasov and Izvoare, and the Tresor Le Palais Hotel in Timisoara preparing to join the group’s Curio Collection.
