By Emea Riga
Accor and his partner in Eastern Europe, Orbis Group, want to open another 10 hotels, with about 1,450 rooms, on the Romanian market by 2022. Last year, Orbis bought the Mercure Bucharest Unirii Hotel with 11 million euros.
Accor and Orbis already have 11 hotels across the country under Accor: Pullman, Novotel, Mercure, ibis and ibis Styles.
From a hotel investor perspective, Romania offers more attractive returns than Western European markets, while retaining a low risk profile and relatively high liquidity.
“Romania’s popularity and attractiveness for international hotel brands is fueled by the country’s positive economic prospects, its rich history, its beautiful nature and its prolific culture, around the values of gastronomy and wine production. Competition in the hospitality market is growing and part of the game, but we are glad to see that more and more local and international investors who decide to work with the Accor Group, “explains Frank Reul, Head of Development of Orbis & Accor Eastern Europe.
Accor & Orbis will develop four hotels in Bucharest, Ibis Styles Bucharest Airport, ibis Bucharest Politehnica, ibis Styles Bucharest Center and Swiss Hotel Bucharest, two in Timisoara, Mercure and ibis, a Mercure hotel in Sibiu and three other yet unannounced.
Since 2017, Accor has been investing in co-working with Bouygues Immobilier through the NextDoor brand, recently transformed into Wojo.
Wojo is a concept of co-working space ready to use and offers 3 types of modules: Wojo Spots – a lightweight version of Wojo Corners, Wojo Corners and Wojo Sites, which are independent co-working spaces.
Wojo is a popular and renowned co-working brand in France, and its development plans include 1,200 Wojo addresses in Europe by the end of 2020, including Bucharest.
By Emea Riga