EUR 4 M investment in a new hotel in Sfantu Gheorghe destined to business tourism

The pandemic provided Romanians with the opportunity to rediscover the beautiful tourist destinations in our country and, despite the discouraging period for investments, entrepreneurs continued the planned projects before the onset of the pandemic situation. One of the hotel projects initiated more than 2 years ago and continued even during the pandemic period is being developed in Sfântu Gheorghe, Covasna county, by the owners of the chain of construction materials warehouses, Depo. The total investment will exceed 4 million euros, part of the funding being allocated by the Pro Economica Alapítvány Foundation.

The hotel is developed on the existing structure of a former hostel for workers, purchased by the current owner in 2017. By 2019 the building has undergone a process of renovation and restoration of the structure and foundation to meet current seismic standards.

The 4-star hotel development actually started in 2019. The hotel will have a total of 45 rooms with generous areas of approximately 33 sqm-35 sqm, including 3 apartments and several single, twin, luxury rooms and even rooms with kitchenette.

The initially estimated investment was € 2.5 million, plus funding of around € 1.5 million from the Pro Economica Alapítvány Foundation. The hotel will have: bar, restaurant, meeting room, and through the recent acquisition of the neighboring land, in the future it will also include an urban Spa, and a conference and events room.

The rehabilitation works will be completed this winter, currently being in the stage of interior design. The hotel will have 20 new employees and the hiring process will start next year.

The price for a double room will be minimum EUR 60/per night and a single room will cost EUR 45-50/night.