Bucharest – skyline transformation 2025: Swissôtel Bucharest – a view from the top of Romania’s hospitality industry

27 decembrie 2020

3 minute citire

About two years ago, Bucharest was adding on its map one of the most ambitious greenfield hospitality projects in Romania. Niro Investment Group, one of the largest Romanian business groups with expertise in real estate investments, development and asset management, through its Group member Business Hotels Investment, started the construction works for a brand-new luxury business hotel project, located in Bucharest, in the very dynamic area of Expozitiei Boulevard.

For this project, Niro Investment Group has signed a strategic partnership with Accor, a world-leading augmented hospitality group, to bring in premiere to Romania the brand Swissôtel, that stands out for intelligent design, quality craftsmanship and mindful approach to sustainability. The contract management for operating the hotel under the Swissôtel brand was signed with Accor in March 2019.

Published in an exclusive, investment destination – oriented, market tour: “Bucharest – the skyline transformation by 2025” – Read: here

The ambitious project fits perfectly the new stage in Niro Investment Group’s development and the pioneering nature of the company, looking for exploring new business directions. Hospitality industry is just one of them, and Niro spotted a good opportunity for hotel investment in the upper-upscale luxury hotels segment.

“We see the Bucharest hotel industry as a very attractive market with huge potential, especially on the premium, upscale segment. All the 5 stars hotels in Bucharest are located in old buildings, most of them converted into hotels, therefore we aimed for a greenfield project and at the same time for a completely new product for Romania. We looked for a strong partner, and Accor turned to be the best companion for us in this exciting journey of bringing to Romania one of the leading hospitality brands, Swissôtel”, Zsolt Nagy, CEO Niro Investment Group said.

Swissôtel Bucharest, a 26-storeys, 85 m tall building, is expected not only to be the tallest hotel in Romania but also to bring new standards to the Romanian hospitality industry. With almost 30,000 sqm total built area, the hotel targeting the premium business and leisure market will feature 224 rooms and suites, 2 dining venues including a roof-top restaurant with spectacular retractable roof, a demi-Olympic sized swimming pool, sport facilities and a luxury spa center with panoramic views. The hotel will provide its guests with 230 parking lots, out of which 218 in the underground parking.

The modern design and sustainable technologies in the grandiose lobby will be complemented by the state-of-the art function space, featuring the largest conference open space on the local market, able to accommodate 455 people. The area also includes meeting and conference rooms as well as ballrooms dedicated to private and corporate events.

long with its exquisite facilities and the state-of-the-art services guaranteed by the Swissôtel brand, the hotel benefits from one more key asset: the prime location. The property is 10 minutes away drive from Otopeni “Henri Coanda” International Airport and close to many corporate and business headquarters and Romania’s main events and exhibit center, Romexpo. Also leisure travelers will enjoy the hotel’s ideal location, just a short drive away from many major attractions such as Bucharest Old City, the Royal Palace, that currently accommodates the National Museum of Art of Romania, the King Mihai I Park and the Romanian Atheneum – one of the Capital’s landmarks. Also, the spectacular Village Museum is just a short stroll away.

The complex real estate project requires an estimated investment of EUR 6,3 million, and last year a financing agreement worth EUR 24 million was signed with Libra Internet Bank. Despite the challenging pandemic context, the construction works on the site continued and after completing the superstructure works, the façade works, plumbing and interior space division will begin. The estimated deadline for finalizing the project and opening of the new hotel is 2023.

The project’s builder is PORR Construct Company, a reputed Austrian company specialized in complex construction and renovation projects. The architectural designer is Architect Service, one of the most skilled local architecture offices in Bucharest, with international presence, while the interior design is provided by GA Design, a luxury hotel and residential interior design company located in London. The financial advisor is Beaufort Global, a leading asset management firm and a strategic partner for Niro Investment Group.