ARTICLES LABELLED WITH TAG Marriott

The first Marriott Hotel in Brașov will open in the mixed-use scheme Urban Plaza that will include apartments, offices and commercial areas.

Lithuanian hotel operator Apex Alliance Group has announced the opening this summer of its most extensive project in Romania, The Marmorosch Bucharest, Autograph Collection. 

Lithuanian group Apex Alliance Hotel Management plans to open the new Moxy Bucharest Old Town hotel on July 20. The total investment cost of the hotel equals €12.5 million.

Marriott is closing food and beverage outlets, reducing staff and closing floors or even entire hotels due to the extremely low levels of occupancy across the world. The company has also temporarily deferred most brand standards to help owners and franchisees, including delaying renovations due in 2020 by one year, deferring required furniture, fixtures and equipment funding and suspending brand standard audits.

The opening of the Moxy Bucharest Old Town hotel in the historical centre of the capital is planned to take place by the end of 2019.

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.

The Black Sea Trade and Development Bank (BSTDB) and Postbank (Bulgaria) will jointly provide €58.3 million (€32 million and €26.3 million, respectively) to help finance the construction of a Marriott hotel in Sofia, the first hotel of the international chain in Bulgaria. The 12-year loan will be extended to I Tower Development JSC, a special-purpose company set-up in Bulgaria. BSTDB acted as arranger of the deal. The operation aims at meeting the growing demand for high-quality business and tourist accommodation and conference facilities in the Bulgarian capital.