Bucharest ranks forth after Prague, Budapest and Warsaw in the top of major cities of interest for hotel operators, according to a study by Cushman & Wakefield Echinox. Thus, Bucharest obtained a score of 7.6 on the scale of investors’ interest, on the third place after Prague and Budapest, both with a score of 8.3, and Warsaw, with a score of 8.1. Other target cities in Romania mentioned by international operators were: Cluj-Napoca, Timisoara, Iasi, Constanta and Brasov.
The volume of transactions with hotel assets in Romania reached about EUR 9.5 million in 2020, decreasing by 87 percent compared to the volume of almost EUR 75 million in 2019. The occupancy rate of hotels reached the lowest level, of 5.1 percent in May 2020 due to government restrictions on hotels and travel. With the easing of restrictions, occupancy began to increase during the summer. The maximum level reached was 17 percent in September 2020.
