by Property Forum | Hotel

Lithuanian company Apex Alliance, the owner of the Hilton Garden Inn hotel in Bucharest’s old town, will invest €90 million in four new hotels on the Romanian market. The hotels will operate under Marriot International and Hilton World Wide brands.


Among the four new hotels, two will be located near the old town – Moxy by Marriott (119 rooms) and Autograph by Marriott (214 rooms) – one will be in close proximity to the capital’s Henri Coanda International Airport – The Hilton Garden Inn (204 rooms) – and the fourth one will be located in the city’s Pipera-Floreasca district – Courtyard by Marriott (259 rooms).
 
Apex Alliance wants to reach a portfolio of 11 units by mid-2020, with five of them located in Bucharest and the rest in Lithuania and Latvia.
 
According to Apex Alliance officials, compared to its size and rapid development, Bucharest and the entire Romanian hotel market still does not have enough hotels, especially ones affiliated with international brands.