Bucharest’s hotel market continued to recover in terms of occupancy rates in 2024, encouraging investments in new hotels. Thus by 2027 it is estimated that over 1.000 rooms will be added to the current supply in the city, according to Cushman & Wakefield Echinox.
2025 promises to be a more fruitful year with two scheduled openings, one refurbishment and one extension. One of the most important openings of 2025 already took place: Corinthia Grand Hotel du Boulevard Bucharest at the junction of Calea Victoriei and Elisabeta Boulevard.
The growth of the hotel market in Bucharest in 2024 was in line with the trends in Central and Eastern Europe (Bucharest, Bratislava, Budapest, Prague, Sofia and Warsaw), with the RevPAR increasing by 11.8% versus 2023 and 12.6% versus 2019 pre-Covid level.
Average daily rate finally surpassed the milestone of 100-euro, registering a 7.3% growth in 2024 – faster ADR growth amongst CEE-6 capitals in 2024, while the occupancy is still lagging behind the 2019 level by 4pp.
In terms of transactional activity, Romania recorded around EUR 50 million in hotel investment volume in 2024, accounting for approximately 13% of total CEE-6 transaction volume of EUR 399M.
The 2024 investment volume represents a 93% increase versus the transaction volume achieved in 2023 and was generated by 7 transactions, out of which two in Bucharest: Hotel Ambasador, a property that will undergo a significant refurbishment, and Hotel Sir Royal.
