Apx Hotels Group has expanded its portfolio with a new 4-star hotel in the historic centre of Sibiu, following the acquisition of former Libra hotel in a deal worth €1.85 million. Crosspoint Real Estate assisted the buyer.
The group is currently renovating the building purchased last year and will relaunch it as Hermanns Hotel this July. Apx has invested around €5 million in revamping the property and adding new facilities for guests. The new hotel will have 71 rooms, two conference rooms, a modern spa and a restaurant.
”The hotel has all the necessary facilities to create a memorable experience for our customers and offers some innovative, even unique elements on the hospitality market in Romania, which will surely surprise our guests,” says Măriuca Cristea, Chief Strategy Officer, Apx Hotels.
Aside from Sibiu, Apx owns 4-star hotels in Bucharest and Brașov county.
"I am glad that we were able to assist the sale of the current Hermanns Hotel in Sibiu, especially in pandemic times. I hope that this transaction will inspire other players in the field and help them look with excitement to the near future when people resume travel due to mass vaccination programs. Most of all, I'm glad that we were able to make a small contribution to local tourism in Sibiu – a former European Capital of Culture," said Oana Popescu, Associate Director of Residential Capital Markets, Crosspoint Real Estate, the consultant who led this transaction.
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