Romanian hotel market continues to recover
The hotel market in Bucharest continued its recovery in 2024, in terms of RevPAR and occupancy rate, while the ADR has finally surpassed the milestone of EUR 100.
According to Cushman & Wakefield Echinox over 1.000 rooms will be added to the current supply in Bucharest, with additions expected in all segments, from midscale to luxury. Two openings are to take place in 2025 as well as one refurbishment and extension. Already this year Corinthia Grand Hotel du Boulevard Bucharest opened its doors to guests. In 2024 one new hotel entered the Bucharest market: The Ramada by Wyndham Bucharest Otopeni Airport.
The growth of the hotel market in Bucharest in 2024 was in line with the trends in Central and Eastern Europe (CEE - 6 - Bucharest, Bratislava, Budapest, Prague, Sofia and Warsaw), with the RevPAR increasing by 11.8% versus 2023 and 12.6% versus 2019 pre-Covid level. ADR was up by 7.3 pct in 2024, but occupancy is still lagging behind the 2019 level by 4pp.