Julius Meinl Living has completed the purchase of Ambasador Hotel in Bucharest, with the project set to undergo a major revamp and reopen as The Julius Bucharest in 2027.
The building has a total surface area of 12,600 sqm and is located in central Bucharest. The hotel became operational initially in 1939.
In the first stage of the transaction, Julius Meinl Living bought Ambasador SA, the firm that held a 50% stake in the hotel. Next, Ambasador SA bought the remaining stake in the hotel. The purchase price was not made public.
The newly planned Julius Bucharest will feature 158 hotel rooms and luxury apartments. The structure of facilities will be similar to the company’s The Julius Prague hotel project.
Julius Meinl Living aims to obtain the LEED Gold green certification for its planned hotel in Bucharest.
The buyer was assisted in the transaction by Special Properties (brokers), Kinstellar (law), TPA (financial) and Optim Project Management (development).
