Olala! is strengthening its strategic expansion in the Romanian market with the acquisition of two hotels located in central Bucharest – Hotel Duke Romană and Hotel Duke Armenească – in a €5 million transaction.
Olala! already has a long-standing presence in Romania through its local affiliate, Rina Hotels, which operates a number of hotels across the country.
Ittai Savran, CEO of Olala!, stated: "We strongly believe in the potential of the Romanian market and are committed to consistently investing in and improving the quality of our properties."
In addition to its hotel operations, Olala! also manages the Olala Homes brand, dedicated to short-term accommodation, with an extensive portfolio of apartments in Romania, Portugal, Spain, and Greece.
Olala! is actively evaluating further investments in major Romanian cities such as Cluj-Napoca and Brașov. Among the most promising developments is a new 5-star hotel project in Sinaia, planned on land already owned by the company.
