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Niro Investment Group plans investments of EUR 60 M in the Romanian hospitality industry

Niro investment Group, owned by Romanian businessman Nicolae Dumitru, plans investments for developing the local hospitality and tourism industry, estimated around EUR 60 million for the next 4 years, as a press release informs.

It’s about a new premium business hotel in Bucharest, in the Expozitiei Boulevard area. The company will also reopen the Corinthia Grand Hotel du Boulevard on December 1, 2019, but also a center of excellence in the hospitality management.

“This is an exciting period in Niro Investment Group’s ongoing growth, and we are honoured to be in partnership with important luxury brands like Corinthia and support the growth of the local hospitality and tourism market,” said Nicolae Dumitru, Chairman of Niro Investment Group, adding: “The reopening of Grand Hotel du Boulevard represents a major enterprise for our company within the real-estate hospitality sector, as we plan to develop, over time, a world-class portfolio of hotels and restaurants in Romania. I am confident that with the proper expertise and the ongoing dedication of our professional team and support of our partners, we can continue to build on the company’s successes to further grow our business presence into new fields of activity”.

Alfred Pisani (L), Chairman of Corinthia Group and Nicolae Dumitru (R), Chairman of Niro Investment Group

In March 2018, Corinthia Hotels and Niro Investment Group announced the signing of a long-term partnership for opening a new luxury property in Bucharest: Grand Hotel du Boulevard, a symbolic historic building that will open its doors again.

In addition to this partnership, Niro Investment Group executed a cooperation agreement to support The Romanian Maltese Relief Service (SAMR), a non-profit organization that for the past 25 years has been developing programs for the benefit of those in need – the elderly, the sick, persons with disabilities and other vulnerable groups. The Romanian Maltese Relief Service is the bearer of the Sovereign Order of Malta mission.

To complement the growing Romanian hospitality and tourism market, Niro Investment Group signed with The Swiss Alpine Hospitality Education Group (SAHEG) a long-term strategic agreement to establish a Centre of Excellence in Hotel Management and Culinary Arts in Romania. This initiative is supported by the Hospitality Asset Managers Association (HAMA) MEA. The Centre will set the standard for excellence in hospitality management training and service for Romania and the region. The institute’s objective is to raise the competencies in the hospitality sector to the level demanded by the national and international business and leisure tourists.

Niro Investment Group continues its investments with the development of a new hotel property in Bucharest, located on the Expozitiei Blvd. The new project is estimated to open by 2021 and will totalize almost 30,000 sqm total built area, targeting the premium business and leisure market.




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