Gica Popescu Hotels, a company of former Romanian football player Gica Popescu, closed a deal with Marriott International for the construction, development and management of the first Courtyard Marriott hotel in Romania. The four-star hotel, which will be located in Bucharest, will be the result of a EUR 20 million investment.
The hotel will have 146 rooms, four conference halls, a spa, as well as retail spaces. Construction works are expected to start in July of this year and end after 18 months. “We already have a success story in Romania with JW Marriott Bucharest Grand Hotel and I am sure we can repeat it with the new Courtayrd Marriott,” said John Litzenberger, VP of Marriott International Lodging Development Europe.
“I am pleased that after long negotiations the Marriott International management thought that this new Marriott project in Romania is opportune and has a future,” said Gheorghe Popescu, president of Gica Popescu Hotels.
Courtyard Marriott is in the Select Service tier of brands owned by Marriott International, while the JW Marriott brand belongs to the luxury tier. Courtyard was introduced by Marriott International in 1983 in the United States. It was conceived when Marriott International began to pursue travelers in the upper-moderate segment.
Marriott International, Inc. is based in Bethesda, Maryland, USA with more than 3,700 properties in 73 countries and territories and reported revenues of over USD 12 billion in the fiscal year 2011. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands, including Marriott Hotels & Resorts, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Autograph Collection, AC Hotels by Marriott, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, ExecuStay, Marriott Executive Apartments, Marriott Vacation Club, Grand Residences by Marriott, and The Ritz-Carlton Destination Club.
The first Marriott hotel in Romania, JW Marriott Bucharest Grand Hotel, opened with a USD 150 million investment. The five-star hotel is owned Societatea Companiilor Hoteliere Grand, where Austrian group Strabag has a controlling stake.
Pictured: Courtyard Munich City Center