Romania Romanian hotels grow

Bucharest saw a similar trend: the occupancy increased by around 3 pct and the ADR by circa 7.5 pct, with resulting RevPAR increase of 11 pct (all based on STR sample) in Jan-June 2025 on 2024.

Therefore, the room revenue growth outpaced inflation (with a six-month average of 5.28 pct according to Moody’s), making hotels an attractive investment opportunity.

The region saw a notable 9.3 pct increase in RevPAR compared to H1 2024, primarily driven by a 6.9 pct rise in ADR. Meanwhile, occupancy also improved by 3.4 percentage points, reaching 65 pct in H1 2025 (6.5 pp. behind 2019 levels). The RevPAR index for all CEE capitals exceeded 2019 levels, with Warsaw (138.9 pct), Sofia (128.4 pct), and Prague (125.5 pct) at the forefront. Warsaw and Sofia stand out as the only cities to have surpassed 2019 occupancy levels, reaching indices of 104.6 pct and 100.2 pct, respectively.

In H1 2025, approximately 20 hotels and serviced apartment projects were completed across the CEE-6 capitals, delivering an additional 1,600 rooms to these markets (+1.7 pct YoY supply growth). This was driven primarily by Warsaw (+3.8 pct), Prague (+1.8 pct) and Bucharest (+1.7 pct). Development activity was concentrated in the Luxury and Upscale segments, which recorded the most substantial supply growth. Notable openings included the Fairmont Golden Prague and the Corinthia Grand Hotel Bucharest.

The Bucharest market continues its positive development, getting more attention from both investors and international hotel operators. City supply is expected to grow at 3 pct CAGR over 2025-2027.

The Romanian hotel market continues its positive trajectory in both performance and investment attractiveness. The growing interest from local capital towards the hospitality assets is supporting the segment development, as it successfully replaces international demand, which remains cautious amid political uncertainties in the region.
Alina Cazachevici partner, head of valuation & advisory, hospitality & alternatives, CEE/SEE Cushman & Wakefield

The capital market statistics confirm the investment sentiment, with transaction volume in the CEE-6 region reaching 682 mln in H1 2025, up 364 pct year-on-year and the highest level since 2019. Most deals involved Upper Upscale assets, with Luxury properties next in line. This positive momentum is expected to continue through the second half of 2025 and into 2026, supported by numerous transactions in the pipeline and new opportunities set to enter the market.

In Romania, the investment volume of more than EUR 50 mln (including one transaction that has been agreed but will officially close in September), compared to circa EUR 35 mln registered in the same period last year.