In Romania, the transaction volume reached about EUR 9.5 mln in 2020, down 87 pct from around EUR 75 mln in 2019. Other cities in Romania mentioned by international operators as their target markets included Cluj-Napoca, Timisoara, Iasi, Constanta and Brasov – where brand penetration is significantly low. Bucharest, despite the challenges faced by the market, a few hotels opened, including the Moxy Old Town (July 2020) and Holiday Inn Bucharest Times (January 2021). In addition, ongoing projects under construction include the Autograph Collection in the Old Town centre and the room extension and renovation in the Radisson Blu Complex. The two developments are due to open in 2021 and 2023 respectively. The majority of operators expect major regional cities to recover earlier than capital cities, with 53 pct of those surveyed expecting these markets to recover by 2023.
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The Bucharest hotel market continues to receive attention from hotel operators looking to expand their chains. Prague, Budapest, Warsaw and Bucharest are the top cities of interest for major operators in the CEE region, according to the Operator Beat survey published by Cushman & Wakefield, quoted by eurobuildcee.com.
