Poland-based Orbis Hotel Group, the licensor of AccorHotels brand in Poland and Eastern Europe, acquired the Mercure Bucharest Unirii in Romania for €11.35 million from the Dogariu family, according to a report from the Business Review.
Orbis has managed the Mercure hotel in central Bucharest since late 2017. The hotel group will continue the refurbishment of the 100-room property to finish modernizing the building.
“Mercure Bucharest Unirii is a mid-scale, ideally located hotel–few steps from the old town and its iconic addresses and in the business area of the vibrant capital of Romania. As announced earlier, Romania is an attractive market with strong potential and this investment is offering long-term value and attractive investment yield," Gilles Clavie, president of the management board and CEO of Orbis, said in a statement.
The hotel buy follows the opening of Orbis' first Ibis Styles hotel in Romania in April 2018, according to SeeNews. The operator developed the property in Arad with local investor Constructii Erbasu following a renovation of the existing building. The hotel now has 72 guestrooms.
The next Orbis-managed hotel is slated to open in July 2018. The hotel group signed another management deal with Constructii Erbasu to take over operations of the Erbas Hotel in Bucharest, according to a Wall-Street report. Orbis will rebrand the existing hotel under the Ibis Styles brand following a complete renovation. The property will have 96 guestrooms once the renovations are complete.
Accor has a portfolio of 10 hotels operating across Romania. Six of these operate in Bucharest while three of the hotels are part of the Mercure chain.