Bucharest’s hotel market is set to expand by around 2,400 rooms by 2026, outpacing the estimated growth from other CEE-based capital cities, according to a Cushman & Wakefield report.

The occupancy rate in Bucharest’s hotel market was up 5% in 2023 compared to the previous year, but it remains around 10% under 2019. However, average revenue per room was up 12%, which is higher than in pre-pandemic times, according to a Cushman & Wakefield Echinox report.

Bucharest is the fifth most attractive market out of 20 cities in CEE-12 in terms of the interest of the main operators to invest in new hotel facilities in the next period, while the results of hotel operators in the Romanian capital reaching pre-pandemic rates, according to a survey by Cushman & Wakefield Echinox. 

The occupancy of Bucharest hotels increased by 33% in the first quarter compared with the same period of last year, and remains about 5% below the 2019 level, according to a report by Cushman & Wakefield Echinox.