Cushman & Wakefield Echinox announced the completion of the sale of the Zenith Conference & Spa hotel in Mamaia, one of the top hospitality units on the Romanian seaside, to the owners of Steaua de Mare Hotels & Resorts, based in Eforie Nord. The property was previously controlled by the RC2 investment fund and Antares Management, a company owned by Dumitru Becșenescu.

According to Ziarul Financiar, Nicolae Bucovală owns several hotels on the Romanian Black Sea coast, including the Steaua de Mare complex in Eforie Nord.

The sale process was managed by the Capital Markets division of the real estate consultancy company Cushman & Wakefield Echinox, led by Mihaela Pană, Partner Private Investments, and Cristi Moga, Head of Capital Markets. The value of the transaction was not made public.

Located on the seafront in the central-north part of Mamaia, Zenith Conference & Spa is a 4-star hotel with 295 keys, a wellness center, outdoor pool, beachfront access, and conference facilities. Moreover, the property includes a beachfront land free of construction for a potential new development.

Mihaela Pană, Partner, Private Investments, Cushman & Wakefield Echinox, commented: “This transaction highlights the growing interest in seaside hotel assets and contributes significantly to the revitalisation and development of the tourism sector. The Romanian seaside has strong potential to become an attractive, year-round destination. Moreover, the Romanian hotel market is undergoing rapid expansion, with a significant number of new projects in Bucharest and the main tourist hotspots. The sector continues to be dominated by local players, who possess in-depth knowledge of the local market.”

The Mamaia-Constanta area hosts approximately 340+ accommodation units, including more than 100 hotels, as well as boutique villas and serviced apartments. The resort has tens of thousands of beds, out of which around 10,000 are operated by hotels. 

Initially built in 1969 and benefiting from several major refurbishments, the Zenith hotel comprises two buildings (Jupiter and Junona), with a total built area of 13,400 sqm, and stands on a plot of land of 5,800 sqm.

irina.marica@romania-insider.com

(Photo source: Cushman & Wakefield Echinox)