The luxury
tourism segment was undeveloped until 2008 when investors were mostly oriented
towards 3 stars hotels. In fact, by 2008 there were only sixteen 5-stars hotels
in Romania and 99 4-stars hotel units. Since 2008, investors saw the potential
this market offers and announced many 4 and 5 stars hotel projects, so that the
highest growth rates were recorded by these 2 segments in 2008 compared to the
previous year:
In 2009
economic crisis has affected hospitality sector in Romania, so that in January hotels
take up in Bucharest was dropped to 33, 7%! Moreover, according to a study
conducted by IBC Focus, at least 25% of
the announced luxury projects are
stopped based on lack of financing.
Still, at the
moment there are 22 luxury hotels under
construction, all included in the Luxury Hotels Report, conducted by IBC
Focus. According to the Report, there
are other eighteen 4 and 5 stars units
in the designing stage that will soon start construction works.
