Romania Bucharest hotel market rebounds
Hotelsschedule 27 February 2024
Occupancy rates are expected to continue their upward trajectory - says Sevda Cadir, senior Hospitality consultant in CEE & SEE, Cushman & Wakefield
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The hotel market in Bucharest has experienced a moderate annual average growth in new offerings, at 0.9 pct between 2019 and 2023. This modest trend was primarily influenced by the cancellation of Urban Zoning Plans. Between 2024 and 2025, an estimated average annual growth rate of 4.1 pct in the number of rooms is expected, according to data from the real estate consulting company Cushman & Wakefield.
While the average hotel occupancy level across the CEE-6 capitals in 2023 lagged 2019 by 9 pct, the ADR surpassed it by 23 pct, resulting in a 12 pct RevPAR growth. The strongest increase was recorded in Warsaw and Budapest. In 2023, Bucharest’s hoteliers managed to catch up with 2019 RevPAR values, primarily due to the boost in ADR. The positive trajectory of key performance indicators and the promising investment announcements for the coming years are poised to encourage both Romanian an
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