The Ascott Limited (Ascott), one of the world's biggest hospitality owners and operators with a presence in over 260 cities, will enter Romania following an agreement with local developer Forty Management. The planned hotel in Bucharest will be operated by the luxury brand The Crest Collection.
The hotel construction is expected to begin this fall, with an estimated opening in the first quarter of 2026 following an investment of €22 million.
The planned Central District Bucharest Hotel - The Crest Collection will have 170 rooms and a 360-degree restaurant on the 14th floor. As part of the partnership, Ascott will operate The Crest Collection brand for an initial period of 25 years.
“We have chosen to capitalize on the potential of the luxury hotel market in Bucharest and we are delighted to be setting up this new project together with Forty Management, one of the most innovative companies in Romania in terms of sustainable, mixed-use real estate developments,” said Marcel Lindt, Development Director UK and CEE, The Ascott Limited.
Lucian Azoiței, CEO of Forty Management, added that La Clef Champs-Élysées hotel in Paris will be the company’s milestone when developing this project.
Central District Bucharest Hotel is the second hotel project of Forty Management after the one within the mixed-use scheme Central District Lagoon City.
