Romania is a key market for Accor and its strategic partner in Eastern Europe, Orbis Group. There are 11 hotels operating throughout the country today, under Accor brands: Pullman, Novotel, Mercure, ibis and ibis Styles – and the development pipeline comprises 10 more hotels, that will bring 1450 new rooms to the market by 2022. In 2018, Orbis has reinforced its commitment to the Romanian hospitality by purchasing Mercure Bucharest Unirii for EUR 11M.
From a hotel investor’s perspective, Romania offers more attractive yields than those in West European markets, while maintaining a low risk profile and relatively high liquidity.
“Romania’s rising popularity and attractiveness for international hotel brands is fueled by positive economic perspectives of the country, by its rich history, beautiful nature and rich culture around food and wines. The competition on the hospitality market is growing and it’s part of the game but we’re happy to see that more and more local and international investors decide to work with one of the Accor – world renowned, brands,” said Frank Reul, Head of Development of Orbis & Accor in Eastern Europe.
10 new more Accor & Orbis hotels are under way, to be completed by 2022. Mercure Sibiu with 85 rooms will be opened this year, as well as Mercure Timisoara (60 rooms). ibis Styles Bucharest Airport with 85 rooms is also ready to be commissioned in 2019, while ibis Bucharest Politehnica (160 rooms) will be ready in 2020.
ibis Styles Bucharest City Center with 152 rooms will be also opened next year, the same as the 200-room ibis Timisoara.
Swissôtel Bucharest to provide 225 rooms will be ready in 2021, like wise the Aparthotel project I and project II. Hotel project III’s opening is scheduled in 2022.