BUSINESS BUSINESS COMPANIES ECONOMY Real Estate

Real-estate investment worth approx. 60 million euro. Niro Investment Group starts work on a new hotel, in strategic partnership with Accor

Niro Investment Group, one of the biggest Romanian business groups, with experience in real-estate investments, asset management and development, and Business Hotels Investment, member of Niro, have officially started construction works on a new hotel project in Bucharest, on Expozitiei Boulevard. Following an estimated investment of 60 million euro, the hotel will open in 2021, will have a total built-up surface area of approximately 30,000 square metres, and will target businesspersons and tourists.

A strategic partnership concluded with one of the global leaders in the field of augmented hospitality was announced at the event which took place in the presence of authorities and business partners. Niro Investment Group has signed a management contract with Accor, with which they will operate the new hotel under the Swissotel brand – a premium hotel brand that will be launched on the Romanian market on this occasion.

“For twenty-five years, our company, in its capacity as real-estate investor and developer, has been launching important business projects, often of a pioneering type. We are thrilled to inaugurate this major project that will offer new facilities to the city, new jobs, a flow of tourists and businesspersons from outside Bucharest,” Mr Nicolae Dumitru, Niro Investment Group President, stated. “It is an extraordinary period in the development of Niro Investment Group, and we are honoured to be the partners of an important luxury brand such as Swissôtel.”

“Romania is a very attractive market, registering very rapid development, having immense potential and very good yields. There is strong domestic demand for hospitality services on the part of wealthy Romanians, and even more so on the part of international visitors. We are honoured that Niro Investment Group has chosen Swissôtel and Accor to manage this ambitious hotel project. We are sure Swissôtel Bucharest will set new standards in the Romanian hotel industry,” added Frank Reul, Accor’s Head of Development for Eastern Europe.

The inauguration ceremony took place on location, where construction works have already started on the future hotel that promises to become a unique offer in Bucharest’s hospitality landscape. PORR Construct Company, a renowned company specialising in complex construction and renovation projects, is the project’s constructor. The design is developed by Arhitect Service, one of the most important local firms of architects, which is represented internationally. Beaufort Global, one of the biggest investment, development and asset management companies, has provided business consultancy for the transaction.

On completion, the building, which will be operated under the Swissôtel brand, will be the highest hotel in Bucharest and will have 225 rooms distributed across 18 floors, as well as restaurants, swimming pool, spa & fitness facilities, and an area for business meetings and corporate events.

The hotel is located on Expozitiei Boulevard, a ten-minute ride from the Otopeni Airport, and near several company headquarters, including Romexpo, the largest exhibition and events centre in Romania. Tourists will enjoy the hotel’s ideal location, near important points of attraction such as the Herastrau Park and the Old Town.

 

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