The Austrian group House of Julius Meinl, which owns the two chocolate factories in Romania, Kandia and Heidi, is close to completing the purchase of the Ambasador hotel in Bucharest. The Austrian group is preparing to invest approximately EUR 35 million in the acquisition and bringing the entire hotel up to the 4-5 star standard.
After the completion of the transaction, the process of remodeling, refurbishing and rebranding the hotel will begin as soon as possible, with around 130 accommodation spaces to be created, of which 40 percent will be double rooms. The expectations are that by the end of the year they will receive the necessary approvals from the mayor’s office for the realization of the project.
The acquisition of the Ambasador hotel is now being carried out through the Czech company JM Innovative Living Management.
