Investor opens two hotels in Romanian Black Sea resort Olimp after EUR 35 mln upgrade

The once-popular Belvedere and Panoramic hotels in the Romanian Black Sea resort of Olimp will reopen on July 1 after undergoing a EUR 35 million revamping process, Ziarul Financiarreported.

The two hotels are now in the portfolio of Mohammad Murad, an investor of Lebanese origin, who owns several other hotels in Bucharest and on the Black Sea coast.

Murad purchased the two hotels plus the Amfiteatru hotel that is part of the same complex in 2016 for about EUR 10 million.

About 80% of the revamping process was carried out during the pandemic, according to a post on the Facebook page of the Belvedere - Amfiteatru - Panoramic hotel complex. For the time being, however, the Amfiteatru hotel remains closed.

"We won't open the whole complex, but two of the three hotels, namely Belvedere and Panoramic. The one that will remain closed is Amfiteatru. At the moment, we do not have reservations because we have not yet set the accommodation prices. We are going to do this these days, but we have seen that people are eager to book," said the representatives of the hotel complex.

(Photo source: Facebook/Amfiteatru Belvedere Panoramic)