Julius Meinl Living concludes acquisition of Ambasador Hotel in Bucharest

Julius Meinl Living announces the completion of the acquisition of the Ambassador Hotel in Bucharest, with an area of 12,600 m2. After an extensive renovation process, the Ambassador Hotel is to be opened under the name “The Julius Bucharest” in 2027.

The Ambassador Hotel is an emblematic Art Deco building in Bucharest, located on Bulevardul General Gheorghe Magheru no. 10 and 10A, the city’s main north-south boulevard.

The property was built shortly before World War II and opened in 1939. The hotel’s operations were suspended during World War II and the early years of communism.

However, in 1958, hotel operations resumed and have continued ever since. The acquisition was carried out in two stages, so in the first stage, Julius Meinl Living acquired Ambasador SA, which owned half of the property and operated as a hotel. Later, in the second stage, Ambasador SA acquired the other half of the property, which was owned separately.

In the process of acquiring the Hotel Ambasador property, Julius Meinl Living was assisted by a team of consultants, including Daniel Țigănilă, Managing Partner of Special Properties (brokerage), Kinstellar (legal), TPA (financial), Optim Project Management (development ).

As part of the permitting process, Julius Meinl Living will discuss with the Bucharest city authorities the best ways to integrate the “Ambassador” name into the redeveloped property. Once the necessary permits are obtained, the rehabilitation will take approximately two years.
Afterwards, The Julius Bucharest will preserve the essence and character of the existing building. Thus, an estimate assumes that the hotel will have 158 luxury rooms and suites. Facilities and services will follow the model already successfully established by The Julius Prague, with a House of Julius Meinl gourmet food and beverage store in mind.

As with The Julius Prague, The Julius Bucharest is intended to be LEED Gold certified. This environmental accreditation indicator will make The Julius Bucharest one of the most sustainable buildings in Romania.

Julius Meinl VI, CEO of Julius Meinl Living, said: “We are delighted that we now have the opportunity to transform the Hotel Ambasador property into one of the exceptional hotels in Bucharest, the capital of one of the most dynamic and fastest growing economies in Europe . We would like to thank everyone who has worked with us so far on this project and look forward to redeveloping the property and then opening it.”
2027acquisitionAmbasador HotelBucharestJulius Meinl LivingrenovationThe Julius Bucharest"
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