Developer One United Properties partners with Ennismore to open Mondrian hotel in Bucharest

Romanian real-estate developer One United Properties and hospitality company Ennismore recently signed a partnership for the opening of a Mondrian hotel in Bucharest, marking One United’s entry into the hotel industry.

Mondrian Bucharest will be located at 8-10 Georges Clemenceau Street, near the Romanian Athenaeum, where One United Properties previously acquired a development site with the intention of transforming it into a hotel.

The signing ceremony took place on March 7 at One Tower and was attended by Victor Căpitanu, co-founder and co-CEO of One United Properties, Riad Abi Haidar, partner in the developer’s hotel division, and Kevin Rockey, Head of Northern & Eastern Europe for Ennismore.

The new hotel will offer approximately 100 rooms and suites, as well as luxurious leisure facilities, including a swimming pool and spa. It will also include upscale dining options.

“For the first time, we are bringing to Romania an internationally renowned brand, Mondrian, which will undoubtedly become a landmark for the city, contributing to the awareness of Romanian culture and traditions on the international stage and to the development of tourism in Bucharest,” said Victor Căpitanu, co-founder and co-CEO of One United Properties.

Riad Abi Haidar, partner in One United’s new hotel division, added that Bucharest’s tourism industry has witnessed a swift recovery following the pandemic. He also said that the city has an unaddressed demand for luxury hotels, with only 9% of hotel rooms in Bucharest being categorized as luxury.

“Mondrian is an iconic global brand, rooted in some of the most exciting destinations across the world. We’re delighted to be partnering with One United Properties to bring Mondrian to Eastern Europe for the first time, to a country that boasts a rich heritage and a vibrant capital, Bucharest, full of elegant architecture and creative communities,” said Chadi Farhat, Brand COO of Mondrian at Ennismore.

Part of Ennismore, a joint venture with Accor, Mondrian is a series of forward-thinking hotels rooted in art, design, and culture. Ten Mondrian properties dot some of the world’s major cities, like Singapore, Los Angeles, Miami, New York, London, Doha, Mexico City, Cannes, Bordeaux Seoul, Hong Kong and Ibiza.

While financial details are still to be worked out, the partners envision a gross investment of EUR 50 million in the development of the new flagship hotel, which is scheduled to be ready by 2026.

(Photo source: press release)