BUCHAREST (Romania), May 25 (SeeNews) – French hospitality group Accor said on Tuesday that it will open a hotel of its Extended Stay brand in Bucharest in the third quarter of 2023.
Novotel Living Bucharest Baneasa is the first hotel of its type to be opened in Eastern Europe, Accor said in a press release.
The new hotel will be positioned just across Bucharest’s largest retail area, Baneasa Shopping City. It will have 150 units, different room types with kitchenette and a flexible space to work. The concept combines three types of stay: short, medium and long, to optimize the top line and the return for the investor, Accor explained.
For the project, Accor has signed a management agreement with ASIC, a joint-venture between entrepreneur Ion Catutoiu and local construction company Somet Group CEO Andrei Stanciu.
Accor owns, manages and franchises over 5,100 hotels and 10,000 food and beverage venues throughout 110 countries.
In July 2020, the group said that it aims to open up to 50 hotels under several brands in the coming years in Romania and that it is actively looking for opportunities in the market.