Hagag Development Europe brings Radisson RED to Romania with EUR 13 mln hotel project in Bucharest

Real estate investor-developer Hagag Development Europe said it is entering the hospitality market in Romania with its first hotel project in Bucharest, developed in partnership with Radisson Hotel Group. The future hotel, Radisson RED Bucharest Old Town, will be the first Radisson RED in the country.

The project involves a EUR 13 million investment and will see the transformation of a 1940s office building, formerly used by the Institute of Hydroelectric Studies, into a hotel with 104 guest rooms. The building will be fully renovated to offer modern amenities while preserving its historical character, the company said.