Polish group Orbis has bought the Mercure Unirii hotel in Bucharest, the former Royal hotel, for EUR 11.35 million.
“Mercure Bucharest Unirii is a midscale, ideally located hotel – few steps from the old town and its iconic addresses and in the business area of the vibrant capital of Romania. As announced earlier, Romania is an attractive market with strong potential and this investment is offering long-term value and attractive investment yield,” said Gilles Clavie, President of the Management Board & CEO of Orbis.
Orbis has been managing this hotel since late 2017 and will continue the refurbishment in order to complete the modernization plan. The hotel has 97 rooms and apartments, a bar and a restaurant.
Orbis is the biggest hotel chain in Poland and Central and Eastern Europe, with 127 units.
(Photo source: Orbis)