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December 8, 2021
BUSINESS

Sheraton hotel chain enters Romania, partnering with Grand Plaza Hotel

The Starwood Hotels & Resorts hotel chain has officially entered the Romanian market with the Sheraton brand, after signing a franchise contract for at least 20 years with the Grand Plaza Hotel that owned the former Howard Johnson Hotel in Bucharest.
Grand Plaza Hotel S.A., the owner of the building, has invested EUR 5-6 M in order for the hotel to go from four to five stars and to be in line with Sheraton’s standards and requirements. Moreover, the hotel now has 270 rooms, compared to 280 previously, and 280-300 employees.
“The negotiations lasted several years. It’s a very important moment for us but also for the city. Bucharest is a key point of entry in this part of Europe. The quality of labour here but also a solid, growing GDP were among the reasons why we took this step. We are looking for a partnership with the right owner, in the right location and the right building. Likewise, we want to open other hotels in Romania too, we are having discussions in this sense,” Starwood Vice President and Regional Director for Eastern Europe Robert Koren stated on Friday.
“With the entry of Starwood Hotels & Resorts on the local market, with the Sheraton hotel brand, Romania represents an important expansion opportunity, bringing Sheraton closer to its goal of opening 150 hotels in the next five years,” Sheraton Hotels & Resorts Global Brand Leader Dave Marr stated.
The Sheraton Hotels & Resorts chain consists of 430 hotels in almost 75 countries. Starwood Hotels & Resorts Worldwide Inc. is one of the most important hospitality and recreation companies in the world, having almost 1,200 properties and 181,400 employees in 100 countries.

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